In his usual briskly benign manner, President Eric Johnston breezed into Atlantic City for the annual convention of the U.S. Chamber of Commerce. One of the first things he did was to tell reporters: "It would be suicidal if price control was abolished immediately. . . . The worst thing that could happen to us would be for prices to spiral and for us to have a period of boom and bust." That afternoon, the Chamber gave its retiring president the back of its hand as it called for the end of all price control, except...

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