As prices soar out of control Carter searches for new economic ideas
"It's really scary. This inflation thing is frightening because we do not know what causes it, or what to do about it. The economists go to their computers, plug in the data,' and out comes information that says that nothing like this should be happening. It's very, very scary stuff."
Rattled ruminations of an inflation-dazed economist? Hardly. The grim statement, a shockingly frank assessment of the price explosion that is menacing the U.S., comes from a senior official of Jimmy Carter's Administration. Moreover, it accurately reflects the drift and disarray that...
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