CANADA: Opting for Controls

Campaigning in last year's national election, Canada's Liberal Prime Minister Pierre Trudeau scorned his Conservative opponents for advocating "rigid and cumbersome" wage and price controls to slow inflation. Last week, in a Nixon-like about-face, Trudeau announced that he will clamp selective controls on the Canadian economy. In a 20-minute nationwide radio and television address, he called for an 8% ceiling on wage increases and a freeze on nearly all prices—they will be permitted to rise only enough to cover increased production costs. To enforce these restraints, an 18-member review board will be created; it will monitor 1,500...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!