Second, by embracing collective entrepreneurship, the Japanese especially have found a different way to achieve competitive advantage while maintaining high real wages.
It was designed to support price guarantees for agricultural products, and to maintain minimum wages for farm labourers.
Such policies have maintained wages and job security for the employed, but they have retarded the creation of new jobs.
How could Americans compete against workers in developing countries, they asked, while maintaining decent wages, health benefits and pensions?
Despite the considerable rises in the costs of many basic items, the government sought to maintain wages largely as they were.
In 1947-1949 the government and organized labor maintained real wages through annual adjustment of wages to prices.
The economy has maintained high wages, attracting immigrants by the millions from all over the world.
The tentative contract also creates a new fund of $580 million to maintain wages of laid-off workers.
Unions formed, Perlman argued, as a means for workers to maintain high wages.
In consequence the government backed down, and negotiated a subsidy for the coal industry to last nine months to enable the employers to maintain wages and conditions.