The Economy: The Specter of Phase 1

FROM the moment that President Nixon slapped a three-month freeze on U.S. wages and prices, the chiefs of organized labor reacted with angry mistrust. Led by George Meany, the 77-year-old president of the A.F.L.-C.I.O., they briefly considered boycotting the Pay Board appointed to set post-freeze rules for wage and benefit increases. Last week, when the 15-member board finally started trying to negotiate what would amount to a master labor contract for the entire U.S. economy, the five labor members found themselves at odds with not only the five business representatives but also the...

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