Meaning: Wage-price control refers to governmental policies aimed at regulating and controlling wage increases and prices of goods and services in an economy to curb inflation. These controls are typically implemented in times of economic crisis, where price stability and maintaining purchasing power are essential.
Frequency of Use: The term is commonly used in economic discussions, particularly during debates on inflation control measures. It is more frequently encountered in written contexts, such as economic reports and academic papers, than in everyday oral communication.
The government implemented wage-price control to combat soaring inflation rates.
Translation: Governo implementou o controle de salários e preços para combater as taxas de inflação galopante.
Critics argue that wage-price control can lead to shortages and a black market.
Translation: Críticos argumentam que o controle de salários e preços pode levar a escassez e um mercado negro.
Historical attempts at wage-price control during the 1970s had mixed results.
Translation: Tentativas históricas de controle de salários e preços durante os anos 1970 tiveram resultados mistos.
While "wage-price control" does not feature strongly in idiomatic expressions, it can be related to several economic phrases that similarly reflect financial management. Below are some idiomatic expressions that incorporate concepts of economic regulation:
Keep a lid on inflation.
The central bank had to keep a lid on inflation and maintain wage-price control.
Translation: O banco central tinha que controlar a inflação e manter o controle de salários e preços.
Tighten one's belt.
Businesses might have to tighten their belts if wage-price control is enforced.
Translation: As empresas podem ter que apertar o cinto se o controle de salários e preços for imposto.
Make ends meet.
Many families struggle to make ends meet, particularly with wage-price control in play.
Translation: Muitas famílias lutam para sobreviver, especialmente com o controle de salários e preços em vigor.
Put the brakes on.
The government decided to put the brakes on to manage wage-price control effectively.
Translation: O governo decidiu frear para gerenciar efetivamente o controle de salários e preços.
The term "wage-price control" emerged in the mid-20th century, particularly during periods of economic instability such as the post-World War II era and the 1970s oil crisis. "Wage" comes from the Old English "wæge," related to compensation for labor, while "price" originates from the Latin "pretium," meaning value or cost. "Control" derives from the Latin "contrarotulus," which means to check or oversee.
Economic regulation
Antonyms:
This detailed overview of "wage-price control" provides insight into its significance in economic discourse, usage context, and relevant expressions.