PRESIDENT NIXON has summoned a "volunteer army" of wage earners, corporate executives, bankers and consumers to march against inflation—under a blurry banner emblazoned so far with only an official emblem, an organization chart and row upon row of question marks.
What the White House aims to create is a national consensus on wage-price policy that will be mostly self-policing. Standards for pay and price rises are to be set by representatives of labor, management and "the public," not directly by Government officials. The stick of federal compulsion will be available to back up...
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