In the General Theory, John Maynard Keynes held money and real wage rates move in opposite directions. In expansion, prices increase faster because of increasing costs and a rise in the proportion of product going to profits. Neoclassical economists held similarly. Money illusion of workers...

Examines policy problems in manpower programs and explores the relationship among wages, unemployment, and prices. Relation of unemployment and wage inflation; Relation between wages and price standards; Human capital and manpower and education programs. (Abstract copyright EBSCO.)