Journal Article The Measurement of Progressivity and Built-In Flexibility Get access Richard E. Slitor Richard E. Slitor University of Oklahoma Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 62, Issue 2, February 1948, Pages 309–313, https://doi.org/10.2307/1883224 Published: 01 February 1948

The pioneer proposal by Henry Wallich and Sidney Weintraub marks an important step in the evolution of a more effective high employment policy: the application of microeconomic incentives that discourage inflationary wage decisions and in effect internalize their social costs in order to achieve macroeconomic goals. Evolving from this innovative tax-based incomes policy (TIP) concept we have a wide variety of plans and variants, some of which have been published in the special Brookings volume, including Arthur Okun's tax bonus TIP; Laurence Seidman's hybrid approach to reduce the nonaccelerating-inflation rate of unemployment (NAIRU); Abba Lerner's wage increase permit plan (WIPP); and now the all-purpose plan embodied in the legislative draft developed by the Senate Committee on Banking, Housing, and Urban Affairs. Conceptually productive, the new pluralism complicates a compact analysis of design issues. It would be impossible for me to cover this waterfront. This discussion highlights major areas of design and implementation with emphasis on the Wallich-Weintraub wages TIP.