ABSTRACT
The one arrangement that hasn’t been tried is incomes policy by agreement, incomes policy by consent rather than by imposition. What does it mean? It means that leaders of government, business, and labor-they all contribute to inflation-sit down together and thrash out an agreement on a noninflationary policy for wages, prices, and taxes, as well as supply management in the inflationary sectors of the economy. It makes eminent good sense to ask the people who are supposed to carry out the pro gram to help make the program, to help make the analysis, to help consider the alter natives, and finally, to make the commitment to what they had a hand in shaping.
