Since 1945 preventing runaway wage inflation has been regarded as a key policy in managing an economy in a successful way. The exact nature of pay control has varied from country to country and from time to time. This book, originally published in 1987, examines pay control policies in major Western economies. It surveys developments from 1945 and explores the aims of pay policies and discusses the problems of implementation, comparing the different kinds of policies. By comparing the performance of these different approaches the book assesses the merits and pitfalls of the different approaches.
1. United States: Control in the Free Market John Lawler 2. Great Britain: A Seedbed of Policy Option Beth Bilson 3. Australia: New Wine in Old Bottles Malcolm Rimmer 4. Canada: The Perfect Environment? Beth Bilson 5. The Federal Republic of Germany: Life Without an Incomes Policy Hans J. Michelmann