The article examines how wages and prices have changed over the past century in the US, UK, and Japan. The researchers found that wages and prices are not always rigid, with differences in behavior across countries. In the US, wage inflation inertia is a postwar phenomenon, while the UK and Japan have shown more flexibility in wages. Prices and wages were particularly flexible during specific historical periods. The US has unique three-year staggered wage contracts that affect adjustment processes. The study also looks at factors influencing price-setting and the speed of adjustment to demand changes in product markets.