BPEA | 1971 No. 2

Thoughts on the Wage-Price Freeze

1971, No. 2

In reading the newspaper since August 15, I have been impressed with the frequency of the arguments that “something” had to be done about the economy and the paucity of the arguments that the program announced by the President will actually accomplish the desired objectives at an acceptable cost. There is no assurance that the new course is better, only that it is different. This paper concentrates on the wage-price controls part of the program which, in my view, raises the most serious issues.