Concept information
Preferred term
wage-and-price controls
Definition
- Wage Controls Wage controls refer to a form of government intervention where a minimum or a maximum is imposed on wages. Imposing a minimum, or a floor, is aimed at securing a living wage for labor. [Source: Encyclopedia of Business Ethics and Society; Wage-and-Price Controls]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/wage-and-price_controls
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