Homework / test English to Dutch Other Government / Politics

Hello! I can't seem to find a good translation for this phrase.

This is the full text:

Are lower wages inevitable?
If the thirty million people unemployed in the twenty-four largest industrialised countries of the capitalist world were told that the quickest way to cut unemployment is to cut wages, their reply would probably be that capitalism would then add deceit to its failure.
They may not have noticed that Sweden's new Social Democrat government is trying to create more jobs in exchange for lower real wages. And that Europe's most thoughtful trade union leaders, the Dutch, are thinking the same way.
The governments of most industrial countries believe that Keynes proved in the thirties that wage cuts in a recession are definitely damaging.
Therefore they have been devaluing their currencies in the last few years, trying to keep wages low by means of an incomes policy and offering employers subsidies to take on more labour. The purpose is identical to a wage cut: to keep the real cost of employing labour low.
But employers may not respond by taking on many more workers because they are more and more substitutable these days. They feel that wages account for a disproportionate share of industrial costs and that cheaper machinery can do the job just as well.

Thank you in advance!