Having had a week to digest it, the U.S. knew what was wrong with the new overall price ceiling (TIME, May 4). It would not work unless it were reinforced by the rest of the President's seven point anti-inflation program, especially farm price control, wage control, and the mopping up (by taxes and war bonds) of excess consumer purchasing power. And OPA last week estimated the excess purchasing power at $17,000,000,000.
Until these are put in effect, OPA's blanket ceiling (effective next week) would be a frost. But with or without them, it...
To continue reading:
or
Log-In
