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incomes policy
(redirected from Incomes policies)

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incomes policy

Collective governmental effort to control the incomes of labour and capital, usually by limiting increases in wages and prices. The term often refers to policies directed at the control of inflation, but it may also indicate efforts to alter the distribution of income among workers, industries, locations, or occupational groups. See also wage-price control.



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And while an income policy for the fat cats may be quite appealing to most of us, economic history would suggest that incomes policies and wage controls do not work.
Traditionally, incomes policies held for a year or two and then fell apart.
Who would have thought at the time that industrial upheaval in the face of prices and incomes policies and the Industrial Relations Act, the Three Day Week, striking miners and the Cod War would later be remembered a halcyon period of social peace and an economic golden age?
 
 
 
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