Sliding wage scale
Encyclopedia
The sliding wage scale consists in increasing the wage
s as the prices rise in order to maintain the purchasing power
of the workers even if there is inflation
.
(SFIO) in the administration Antoine Pinay (RI
).
It has been removed in 1982 as Jacques Delors
(PS
) was Finance minister, in the second administration of Pierre Mauroy (PS
).
Wage
A wage is a compensation, usually financial, received by workers in exchange for their labor.Compensation in terms of wages is given to workers and compensation in terms of salary is given to employees...
s as the prices rise in order to maintain the purchasing power
Purchasing power
Purchasing power is the number of goods/services that can be purchased with a unit of currency. For example, if you had taken one dollar to a store in the 1950s, you would have been able to buy a greater number of items than you would today, indicating that you would have had a greater purchasing...
of the workers even if there is inflation
Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...
.
In France
The sliding wage scale has been introducted in France in July 1952 under the president Vincent AuriolVincent Auriol
Vincent Jules Auriol was a French politician who served as the first President of the Fourth Republic from 1947 to 1954. He also served as interim President of the Provisional Government from November to December 1946, making him one of only three people who were heads of state of the French...
(SFIO) in the administration Antoine Pinay (RI
Independent Republicans
The Independent Republicans were a French liberal-conservative political group founded in 1962, which became a political party in 1966 . The leader was Valéry Giscard d'Estaing....
).
It has been removed in 1982 as Jacques Delors
Jacques Delors
Jacques Lucien Jean Delors is a French economist and politician, the eighth President of the European Commission and the first person to serve three terms in that office .-French Politics:...
(PS
Socialist Party (France)
The Socialist Party is a social-democratic political party in France and the largest party of the French centre-left. It is one of the two major contemporary political parties in France, along with the center-right Union for a Popular Movement...
) was Finance minister, in the second administration of Pierre Mauroy (PS
Socialist Party (France)
The Socialist Party is a social-democratic political party in France and the largest party of the French centre-left. It is one of the two major contemporary political parties in France, along with the center-right Union for a Popular Movement...
).