CONTROLS: A Vote for Phase III

During Richard Nixon's long and almost theological campaign against the idea of wage-price controls—which ended abruptly last Aug. 15 with the laying down of the New Economic Policy—he was widely thought to be reflecting the wishes of big businessmen. Nixon and his principal advisers still dislike controls, and they have promised to abolish them at the first possible moment. Quite a few business leaders, however, have become increasingly devoted converts to governmental guidelines. An especially telling sign of their approval came last week in a report by the Committee for Economic Development, an organization of top-ranking corporate chieftains—including executives...

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