"THE UPWARD SPIRAL."
The chairman of the Melbourne Stock Exchange, Mr. W. Forster Woods, said in his address to members at the opening of the Stock Exchange for the New Year, that an increase in purchasing power of money to a greater extent than reduction of wages—in other words, an increase in real wages —would create a greater and sounder prosperity for all. "We are on an upward spiral in costs and a downward spiral in incomes," he declared. "This cannot continue for very long without adjustment."
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https://paperspast.natlib.govt.nz/newspapers/EP19390111.2.125.10
Bibliographic details
Evening Post, Volume CXXVII, Issue 8, 11 January 1939, Page 12
Word Count
87"THE UPWARD SPIRAL." Evening Post, Volume CXXVII, Issue 8, 11 January 1939, Page 12
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