The Economy: The Whole Stack

"I don't know if anybody can do anything," declared the President. "But I'm willing to try."

In his determination to avert a nationwide steel strike last week, Lyndon Johnson tried just about everything. He summoned both sides from Pittsburgh, installed them in Room 2751 of the Executive Office Building across the street from the White House, and posted guards outside the drab chamber to keep newsmen and lobbyists away. At his prompting, industry and union bargainers labored as long as 1½1 hours a day. As the strike deadline loomed, Johnson cut the lunchtime...

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