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For the coming decade, an inflation-weary nation should aim at a so-far elusive goal: stable prices, low unemployment and steady economic growth. The U.S. has already achieved a full-employment society, but the next job will be to devise ways to live comfortably with it. That will not be easy. The material prosperity of the 1960s has not produced tranquillity or happiness for large sections of the nation. A full-employment economy is a delicate mechanism, the clash of powerful forces, notably labor and management. Both forces will have to accept new atti tudes, new compromises and, above all, new restraint if the U.S. is to achieve price stability while maintaining its eco nomic freedoms.
* Who was accompanied by Paul Volcker, Under Secretary for Monetary Affairs, and Herbert Stein, member of the Council of Economic Advisers.