The Hemisphere: Where's It Going to End?

"Under great inflationary pressures, you must have . . . direct controls," said U.S. Economic Stabilizer Eric Johnston last week during a television interview at Washington. "I'll give you one illustration of it, and that is Canada." His point: Ottawa's program of drastic fiscal controls was not going so well as the U.S. policy of price & wage ceilings. Next day Ottawa announced that the cost-of-living index had jumped another 2.1% in May to 184.1%; it had virtually reached the U.S. level of 185.4%. Since Washington applied price & wage controls last January...

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