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Labour Costs and the Future of the Accord
Author(s) -
Dawkins Peter,
Blandy Richard
Publication year - 1985
Publication title -
australian economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.308
H-Index - 29
eISSN - 1467-8462
pISSN - 0004-9018
DOI - 10.1111/j.1467-8462.1985.tb00277.x
Subject(s) - enthusiasm , summit , wage , economics , deregulation , context (archaeology) , politics , term (time) , labour economics , market economy , economic policy , political science , law , psychology , social psychology , paleontology , physics , quantum mechanics , physical geography , biology , geography
This article concentrates on the wages policy aspects of the Accord. The Statement of the Accord, the National Economic Summit Communique and the Principles for National Wage Cases, are considered in the context of the rationales for wages policy. The apparent early successes of the Accord, followed by signs, such as the emergence of wage drift, that it will eventually break down, are outlined. Long‐term political economy aspects of the Accord are considered, which suggest that it is unlikely to represent a long‐term solution. The growing enthusiasm for decen tralisa tion and deregulation, despite the Hancock Report, is noted, as is the importance of promoting shared objectives at the grass roots level.