In the case of Latin America, an absence of wage data in such an important source as E.C.L.A.’s annual Surveys must be set against a fair number of impressionistic references to the behaviour of the wage level — especially in South America — in the same and other sources. In contrast, the annual Surveys of the United Nations Economic Commission for Asia and the Far East (E.C.A.F.E.) do contain a few data about wages in their statistical sections —indices of money wages for one or two sectors in various countries1 — but virtually no reference to the significance of wage trends can be found in their texts. Even more than in Latin America, wage movements in Far Eastern developing countries would appear to be a relatively unimportant variable in shaping the development of the economy. In this region, not only are they not considered as in any sense a ‘prime mover’, but neither are they accorded a significant secondary role in the manner in which changes in South American wage levels are recognised as giving further twists to inflationary spirals.
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- The Far East
Anthony D. Smith
- Palgrave Macmillan UK
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