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Previous wage studies of the period before World War I found that real wages remained stable from 1890 to 1914 despite the continued growth of the economy. This study indicates that this conclusion was based on faulty statistics. Using new estimates of money wages and a new cost-of-living index, Mr. Rees shows that real wages rose considerably in this period, although less than in later years. His findings will require revision of the prevailing viewpoint.

Originally published in 1961.

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