Economists feel that incomes policy, if successful in controlling inflation:

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Economists believe that an incomes policy can control inflation by limiting the increase in wages and prices. However, this can cause an underallocation of resources to the production of products for which there is high demand because workers and firms may shift their efforts to other sectors where wages and prices are not restricted. This can lead to shortages of goods and services in the high-demand sectors and an overproduction of goods and services in the low-demand sectors. Therefore, while an incomes policy can be effective in controlling inflation in the short-term, it can also have negative effects on the allocation of resources in the economy.

Economists Feel That Incomes Policy, If Successful in Controlling Inflation