- a government policy to curb inflation that relies on voluntary compliance rather than on mandatory wage, price, or profit controls.[1955-60]
* * *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.
* * *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.Countries with highly centralized methods of setting wages tend to have the greatest degree of public or collective regulation of wage and price levels. In The Netherlands (Netherlands, The), wage settlements are subject to government approval before becoming operative, and price increases are investigated by the Ministry of Economic Affairs. Centralized wage negotiation in the Scandinavian countries functions to set limits for local bargaining rather than to fix the actual wage rate paid; as a result, local wage rates tend to drift away from the centrally determined one. In Norway and Sweden the government has no formal role in bargaining procedures, but its influence is nevertheless felt in negotiations.France, the United Kingdom, Germany, Austria, and the United States have also sought ways of restraining wage and price increases. They have usually preferred to seek the voluntary cooperation of management and labour rather than to establish administrative machinery. Incomes policies are generally unpopular among trade unionists because they are thought to bear more heavily upon wages than upon other forms of income.
* * *
Look at other dictionaries:
Incomes policy — Incomes policies in economics are economy wide wage and price controls, most commonly instituted as a response to inflation, and usually below market level. Incomes policies have often been resorted to during wartime. During the French… … Wikipedia
incomes policy — ➔ policy * * * A broad term covers various direct forms of inflation control by a government. It can include a freeze or limitation on increases in prices, wages, dividends, investment income and rents. * * * incomes policy UK US noun [C] UK ► … Financial and business terms
incomes policy — a government policy to curb inflation that relies on voluntary compliance rather than on mandatory wage, price, or profit controls. [1955 60] * * * incomes policy noun A government policy of curbing inflation by controlling wages • • • Main Entry … Useful english dictionary
incomes policy — / ɪnkʌmz ˌpɒlɪsi/ noun the government’s ideas on how incomes should be controlled … Marketing dictionary in english
incomes policy — / ɪnkʌmz ˌpɒlɪsi/ noun the government’s ideas on how incomes should be controlled … Dictionary of banking and finance
incomes policy — A government policy aimed at controlling inflation and maintaining full employment by holding down increases in wages and other forms of income and prices by means of statute or moral suasion … Big dictionary of business and management
incomes policy — (U.K.) Econ a government policy that seeks to restrain increases in wages or prices by regulating the permitted level of increase … The ultimate business dictionary
prices and incomes policy — noun (C) government actions to prevent prices and incomes increasing, in order to stop or limit inflation … Longman dictionary of contemporary English
prices and incomes policy — Econ a policy of using government regulations to limit price or wage increases … The ultimate business dictionary
policy — pol‧i‧cy [ˈpɒlsi ǁ ˈpɑː ] noun plural policies 1. [countable] also inˈsurance ˌpolicy INSURANCE a contract with an insurance company, or an official written statement giving all the details of such a contract: • She did not realize that her… … Financial and business terms