INCOMES policy" has been the ghost haunting the Nixon Administration's economic debates. It will neither go away nor, usually, assume any definite shape. The idea that the Government should try to guide private wage and price decisions into noninflationary paths has been urged on reluctant White House leaders by Federal Reserve Chairman Arthur Burns, Assistant Treasury Secretary Murray Weidenbaum, many private economists, some foreign central bankers, and a growing number of President Nixon's big-business supporters. Few of these advocates have specified what form an incomes policy should take or how tough it...
To continue reading:
or
Log-In
