Speaking to a meeting of AFL-CIO price monitors in Washington last week, Price Commission Chairman C. Jackson Grayson made a startling admission: it is impossible for ordinary consumers to know whether increases on the products they buy are legal or not. Indeed, added a top official of the Internal Revenue Service, the widely displayed invitations for customers to inspect "base price lists" are "largely psychological." Customers who take the trouble to pore through a store's all-but-unintelligible price lists still have no way of knowing whether any single price increase conforms to Phase II guidelines.
The reason is that the Government reviews...
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