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It argues that real wages typically rise over long periods, while still facing limits within any specific time and place. The text links wage levels to efficiency, prices, competition between sheltered and unsheltered industries, and the role of bargaining and industrial arbitration. It also stresses constraints on wage declines tied to workers’ health and mobility.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/letters-to-john-smith-no-1-the-basis-of-wages/323799/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/letters-to-john-smith-no-1-the-basis-of-wages/323799.png","ImageObject",300,407,{"name":92,"@type":93},"Logic","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-04","2026-09-21",true,{"@type":102,"interactionType":103,"userInteractionCount":44},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What does the letter mean by “real” wages?","Question",{"text":112,"@type":113},"It means wages that translate into purchasing power—buying more goods—rather than wages rising together with higher prices.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Why are there limits to how much wages can rise in a given place and time?",{"text":117,"@type":113},"Because if wages rise faster than efficiency, production costs rise, prices increase, and real wages fall while employment may suffer.",{"name":119,"@type":110,"acceptedAnswer":120},"How does the letter describe the difference between sheltered and unsheltered industries?",{"text":121,"@type":113},"Sheltered industries can raise prices without much fear of outside competition, while unsheltered industries risk losing trade if they raise prices due to competition and imports.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},323799,1790542763,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":44,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":36,"preview_page_count":4},1099513958762,"https://ap-avatar.wpscdn.com/avatar/1000023916a998db790?x-image-process=image/resize,m_fixed,w_180,h_180&k=1784791008015729253","97-84079-20Giblin,Lyndhurst Falkiner  \nLetters to John Smith  \n[Melbourne][1930]  \n# COLUMBIA UNIVERSITY LIBRARIESPRESERVATION DIVISIONBIBLIOGRAPHIC MICROFORM TARGET\n\nORIGINAL MATERIAL AS FILMED-EXISTING BIBLIOGRAPHIC RECORD  \nG1blin,Lyndhurst Falkiner,187?-  \nLetters to Jolin ni1.h,4elling in simple 1angaeethe 1nct,s of the economic situation that hasnrisen in Australia,and showing how our probler.5can be solvod,by L.F.Gihlin…  lielbo2rne,The Herald ard weekly times ltd..193022 p.2l cm。(elhourne hernld reprints)  \nBox 296  \n\"Tublished in the Herald in Jnly,1930.\"  \nm49  \n## RESTRICTIONS ON USE:\n\n Reproducfions may not be made without prmission from Columbia University Lbraries               \nTECHNICAL MICROFORM DATA  \n1/:/   \nIIB  \nIB  \n35mm  \nIMAGE PLACEMENT:IA(  \nREDUCTION RATIO:  \nFILM SIZE:  \nDATE FILMED:                    5-8-97INITIALS:         高  \nTRACKING\\#:                                                                                                      S.12  \nFILMED BY PRESERVATION RESOURCES,BETHLEHEM,PA.  \n308  \nZ  \n\n|  | LETTERS to  \u003Cbr>JOHN SMITH  \u003Cbr>telling in simple language the facts of  \u003Cbr>the economic situation that has arisen in  \u003Cbr>Australia,and showing how our problems  \u003Cbr>can be solved.  \u003Cbr>—By一  \u003Cbr>L.F.GIBLIN  \u003Cbr>Ritchie Professor of Economics.  \u003Cbr>University of Melbourne.  \u003Cbr>ISSUED CRATIS  \u003Cbr>Publiahed in The Herald in July,1930  \u003Cbr>30x29c  \u003Cbr>308   |  |\n| --- | --- | --- |\n\n0武30,193o /H3e  \n## The Basis of Wages\n\nNo.1  \nDEAR John,—I want to talkfirst of all about the prospectsof higher wages.  Not higherwages with higher prices,buthigher \"reaf\"wages that will buymore stuff.  Real wages have hadups and downs,but on the wholehave risen greatly in the last 100years,so that average real wages inAustralia are five or six,times whatour great-grandfathers in Englandearned when they were young.Wageswill have ups and downs in the futureas in the past,but on the whole realwages will go on rising with thegrowth_of kcnowledge and invention.But for any given time and placethere is always a limit beyond whichwages cannot rise.They may risehigher in one trade,but it will'be atthe cost of wages in another trade.The average wage cannot go beyonda certain limit.  \nNo apology is necessary for the republication ofthese letters to John Smith,written for The Herald byProfessor L.F.Giblin,Ritchie Professor of Economicsat the Melbourne University.  \nThey attracted such widespread attention whenprinted serially that readers urged that they should bemade available in compact form for further study.  \nThe letters deal in simple language with the posi-tion into which Australia has drifted today,and pointthe way back to industrial stability and nationalprosperity.  \nThe author is one of the few outstanding economistsin the Commonwealth.  \nHe has no axe to grind for either capital or labor.  \nHe reviews the position as he sees it from the ex-pert's point of view.  \nThere is also always a limit belowwhich real wages cannot fall—theamount necessary to keep workersphysically and mentally fit _for theirwork,and to keep them from movingoff to other countries.  \nAfter reading the letters in the following pages itis for John Smith to decide whether the advice givenis not SOUND COMMON SENSE.  \nBetween these limits there is roomfor bargaining,and Arbitration andawards by Industrial Courts.Beforethe workers were organised wagestended to keep near the lower limit.As the unions grew strong.wagesmoved towards the upper limit.Inthe better organised trades in Austra-ia,it is certain that wages are nearthe upper limit:That means thathigher wages can be got in only twoways-with greater eficiency of pro-duction or at the cost of tnemploy:ment.  You don't believe that?Idon't expect you to all at once.Whenyou have got that frmly in your head,  \nthen your feet will be on the straighttrack which leads to higher wages.Until you do come to believei youwill be wandering in a circle in thebush.  I have talked over.this withyou off and on t","cbCaiaxR4OtYNr2U","https://ap.wps.com/l/cbCaiaxR4OtYNr2U","pdf",986366,16,"English","# The Basis of Wages\n## Higher real wages and limits\n## Wages, efficiency, prices, and employment\n## Sheltered vs unsheltered industries\n## Bargaining and arbitration","[{\"question\":\"What does the letter mean by “real” wages?\",\"answer\":\"It means wages that translate into purchasing power—buying more goods—rather than wages rising together with higher prices.\"},{\"question\":\"Why are there limits to how much wages can rise in a given place and time?\",\"answer\":\"Because if wages rise faster than efficiency, production costs rise, prices increase, and real wages fall while employment may suffer.\"},{\"question\":\"How does the letter describe the difference between sheltered and unsheltered industries?\",\"answer\":\"Sheltered industries can raise prices without much fear of outside competition, while unsheltered industries risk losing trade if they raise prices due to competition and imports.\"}]","Letters to John Smith - No. 1 - The Basis of Wages | PDF",1789966226]