MANAGEMENT JARGON EXPLAINED

TIME SPAN OF DISCRETION The great debate on the Prices and Incomes Act, the wages freeze and the period of severe restraint, is fundamentally a return to the argument for determining wages by the pressures of market forces. The supporters of this view accept that it is natural for wages and salaries to be fixed by the compromise of conflicting claims, if only because of the absence of more effective methods of measuring the comparative content of work.