ABSTRACT
This chapter explains however, reactions of the kind are left out of account, and economists' problem is studied on the assumption that employers’ technique and methods of organisation are not appreciably affected by wage policy. The interest of the dividend requires that the wage rate should not be fair, but should be put at a level that embodies the former of the two cancelling elements of unfairness. But the fairness embodies two elements of unfairness, interference with one of which would not benefit, while interference with the other would benefit, the national dividend. Interference, therefore, is desirable in spite of the fact that the wage is fair. There would be a wide field over which interference to raise wages that are already fair would benefit the national dividend. If, however, fairness in every individual wage rate was regarded as a conclusive reason against altering it, this change could never come about.
