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Employers gained the expectation that if they agreed to rises in pay that would exceed the rise in productivity, and so raise unit costs, they would still be able to preserve profit margins by raising the prices of their products—and do this without losing business, provided only that the initial rise in pay was not greater than that which was being conceded at the time by other employers.
Similar(59)
"There's a reoccurring theme with the goals that are being conceded this season.
Iran, which has insisted on its right to enrich uranium, was being asked to concede the main point of the negotiations before they started.
Mr. Long, who is China's vice trade minister, complained that China was being asked to concede more in the trade arena than other developing countries.
"The strikers can focus on scoring goals because we know at the back there are no goals being conceded.
Now, a year later, I am being forced to concede that this Internet TV craze isn't going anywhere either.
Full integration has generally been conceded to be impracticable for corporations with large numbers of shareholders.
The charges allege that matches were not thrown, but that bowlers ensured a minimum number of runs were to be conceded during certain six-ball overs.
The crowd hadn't been blameless, it has to be conceded.
Some of the details are still hazy, it should be conceded.
Has defeat been conceded, or is there another initiative in the offing?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com