The prices of raw materials do not fluctuate directly with the labour cost of producing them.
If workmen are denied any increase in real wages and they can look forward only to a better standard of living through reduction of prices, progress for them is terribly slow, and they become impatient and dissatisfied.
There may be some backward countries where the mass of the people are on a subsistence level and where, as an aftermath of wars or partial crop failures, the standard of living has to be drastically reduced, but this certainly is not the case in our prosperous nations.
There is no royal road; you've got to work a good deal harder than most people want to work.
That it is logical, fair and reasonable to maintain the purchasing power of an hour's work in terms of goods and services the employee must purchase in his daily living.
No plan can prevent a stupid person from doing the wrong thing in the wrong place at the wrong time - but a good plan should keep a concentration from forming.
