This article analyzes the dynamics of the real wages of employees and workers during the years of the Law for the Permanent Defense of Democracy (1948 - 1958) or "Ley Maldita" ("Cursed Law") in the context of the inflationary crisis of that period. Special attention is paid to the factors that shaped this process, such as the relationship between the Government, the unions and the workers' associations; the use of the "Ley Maldita" as a political-economical mechanism against unions; the role of the Klein-Saks Mission in the wage fluctuations; and the various structural imbalances of the Chilean economy in the middle decades of the 20th century. The observed dynamics are unequal in that they benefit employees more than workers. This trend is facilitated by an anti-worker use of the "Ley Maldita" and incoherent changes in economic policy from 1948 to 1953, which spreads the inflationary crisis that ends up causing the general fall in wages from 1953 to 1955. It can also be observed that from 1955 to 1958 attempts are made to turn the temporary low-wage situation into a new balance of wage stability with the support of Klein-Saks and a renewed repressive policy.