Richard Nixon announces a wage-price freeze on August 15, 1971, shocking the world. Photo: Richard Nixon Foundation When I was a freshman college debater at Emory University in the fall of 1970, the national debate topic was not Vietnam, but the desirability of wage and price control. Little did we know that just months ahead a Republican president would impose a wage-price freeze, long the anti-inflationary prescription of the left wing of the Democratic Party.
Like Tim Noah, I suspect there may be a generational lapse in understanding the politics of inflation: But sometimes lost in an examination of the right’s exploitation of inflation fears is the abiding fact that the left has no clear prescription for dealing with it, either, other than by denying its existence or significance . Ironically, that was made most evident by the supposedly illiberal Richard Nixon’s surprising use of the great liberal instrument for taming inflation.
I was a kid when that happened but it was truly amazing how fast prices went up. A box of Screaming Yellow Zonkers went from .39¢ to $1.39 almost overnight. People were saying the best investment you could make was a case of tuna fish.
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England is building more homes than it has for many yearsThat is changing the contours of the countryside—and of politics | Britain ` You should HATE life on this Earth because it leads to Hell. GrandCelebrationVigil Beautiful country! ...building while depopulating⁉️
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Only in America. Ah back to the American norm. 🤡 Good thing they defunded the police in that neighborhood
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Washington Nationals Game Descends Into Chaos After Shooting OutsideA shooting outside the Washington Nationals' ballpark during Saturday night's game set off a panic Always good for business Relieved that everyone is safe and those injured are alive and being treated. To POTUS we need gun legislation ASAP!
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Weekend reads: Rising inflation and the Federal Reserve’s response to itAlso, retirement locations, how to fix a troubled pension fund, stock- and bond-market warnings, and child tax-credit payments.
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