“Those who advocate devaluation are calling for a reduction in the wage levels and the real wage standards of every member of the working class.”

—  James Callaghan

"Chancellor stands by three per cent growth and no devaluation", The Times (25 July 1967), p. 13
The government was forced to devalue in November 1967.
Chancellor of the Exchequer

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Those who advocate devaluation are calling for a reduction in the wage levels and the real wage standards of every memb…" by James Callaghan?
James Callaghan photo
James Callaghan 37
Prime Minister of the United Kingdom; 1976-1979 1912–2005

Related quotes

Franklin D. Roosevelt photo

“Congress passed a Fair Labor Standards Act, commonly called the Wages and Hours Bill. That Act”

Franklin D. Roosevelt (1882–1945) 32nd President of the United States

1930s, Fireside Chat in the night before signing the Fair Labor Standards (1938)
Context: After many requests on my part the Congress passed a Fair Labor Standards Act, commonly called the Wages and Hours Bill. That Act — applying to products in interstate commerce-ends child labor, sets a floor below wages and a ceiling over hours of labor. Except perhaps for the Social Security Act, it is the most far-reaching, far-sighted program for the benefit of workers ever adopted here or in any other country. Without question it starts us toward a better standard of living and increases purchasing power to buy the products of farm and factory.

Friedrich Engels photo

“By bourgeoisie is meant the class of modern capitalists, owners of the means of social production and employers of wage labor. By proletariat, the class of modern wage laborers who, having no means of production of their own, are reduced to selling their labor power in order to live.”

Friedrich Engels book The Communist Manifesto

The Communist Manifesto, footnote (1888 edition)

Friedrich Hayek photo

“There is no salvation for Britain unless the special privileges granted to the trade unions in 1906 are revoked. The average level of real wages of British workers would undoubtedly be higher, and their chances of finding employment better, if the wages of different occupations were again determined by the market and all limitations on the work an individual is allowed to do were removed.”

Friedrich Hayek (1899–1992) Austrian and British economist and Nobel Prize for Economics laureate

"Trade Unions — The Biggest Obstacle", Economic Affairs (October 1980)
1980s and later

Karl Marx photo

“Political Economy regards the proletarian … like a horse, he must receive enough to enable him to work. It does not consider him, during the time when he is not working, as a human being. It leaves this to criminal law, doctors, religion, statistical tables, politics, and the beadle. … (1) What is the meaning, in the development of mankind, of this reduction of the greater part of mankind to abstract labor? (2) What mistakes are made by the piecemeal reformers, who either want to raise wages and thereby improve the situation of the working class, or — like Proudhon — see equality of wages as the goal of social revolution?.”

Karl Marx book Economic and Philosophic Manuscripts of 1844

Source: First Manuscript – Wages of Labour, p. 6.
Source: Economic and Philosophic Manuscripts of 1844

Malachi photo

“Against those who exploit wage earners and widows and orphans,”

Malachi Biblical prophet

Source: Book of Malachi, Chapter 3, Verse 5, Lines 1-6, (NKJV)
Context: And I will come near you for judgement;
I will be a swift witness
Against sorcerers,
Against adulterers,
Against perjurers,
Against those who exploit wage earners and widows and orphans

“When the production process demands less work and distributes less and less wages, it gradually becomes obvious that the right to an income can no longer be reserved for those who have a job; nor, most importantly, can the level of incomes be made to depend on the quantity of work furnished by each person. Hence the idea of guaranteeing an income to every citizen which is not linked to work, or the quantity of work done.”

André Gorz (1923–2007) austrian philosopher

p. 203 https://books.google.com/books?id=WbpvDwAAQBAJ&pg=PA203
Critique of Economic Reason, 1988

Joseph E. Stiglitz photo

“Most poor people earn more than minimum wage when they are working; their problem is not low wages. The problem comes when they are not working.”

Joseph E. Stiglitz (1943) American economist and professor, born 1943.

Economics (1993).

Ralph Bunche photo

“And so class will some day supplant race in world affairs. Race war will then be merely a side-show to the gigantic class war which will be waged in the big tent we call the world.”

Ralph Bunche (1904–1971) American diplomat

Unsourced

Vladimir Lenin photo

“We are waging a struggle against the "labour aristocracy" in the name of the masses of the workers and in order to win them over to our side; we are waging struggle against he opportunist and social chauvinist leaders in order to win the working class over to our side.”

Vladimir Lenin book "Left-Wing" Communism: An Infantile Disorder

CH 5, "Left Wing Communism in Germany. The Leaders, the Party, the Class, the Mass"
"Left-Wing" Communism: An Infantile Disorder (1920)

“Factory workers are not working for capitalism, they are working for a living wage.”

Bernard Crick (1929–2008) British political theorist and democratic socialist

A Footnote To Rally Fellow Socialists, p. 240.
In Defence Of Politics (Second Edition) – 1981

Related topics