Utilizing experience and information gained in more than ten years in Norway, the author presents an extensive body of empirical evidence on the difficulties of maintaining both price stability and free collective bargaining in a full employment economy. The first part of the book is devoted to an exploration of the course of wage policy and collective bargaining over wages, and the role these decisions played in determining the actual development of money wage levels. The second half consists of a detailed analysis of the relation between wage developments and the price level, the share of labor in national issues, the rate of capital formation, and the allocation of manpower within the economy.