ended for by the employers. And it is not too much to presume that
in practically all cases neither of the two sides presses claims from
which they do not expect to benefit. The employers are not likely to
seek such wage rates as will not procure the needed labor supply; and
only in rare cases are the wage earners likely to press for increases of
wages that would bring about an increased measure of unemployment.[141]
When those rare cases arise, indeed, it will be the duty of the central
authority to protect the interested parties against their own bad
judgment.

Thus it cannot be admitted that the application of the proposed
principles would produce an intensification of the already existing
possibilities that particular industries or occupations would be short
of the kind of labor they need, or that they would be overcrowded. This
conclusion is greatly strengthened by the thought that under our present
practices, wage settlements are constantly being reached without any
reward whatsoever for the disturbance of customary differentials; and
serious maladjustments in the supply of labor do not often result
because of that.

6.--A note upon the procedure by which it is expected that the proposed
principles would be brought into operation may help to explain away
remaining doubts. First of all, it may be emphasized that nothing in
these proposals contemplates the discontinuance of collective bargaining
throughout industry. Rather the creation of joint industrial or
occupational boards or councils (those suggested in the course of the
living wage discussion) is advised. Only when any wage question cannot
be settled peacefully by collective bargaining is it proposed that the
central authority should enter into the dispute.

It is to be expected that as the principles followed by the central
authority in its decisions become known and understood--that is, as the
probable result of disagreement, and of reference to the central
authority become predictable--the agreements reached by collective
bargaining would tend to approximate those which would result from
reference to the central authority. For example, if a series of
decisions expounded the doctrine that the existing relationships between
the wages of the miners, railway conductors, and bricklayers are in
accordance with the principles recognized by the central authority, the
course of negotiation in these occupations will be governed, to some
extent, by that knowledg