Word: ceas
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...against wage and price controls, but we cannot let this situation go on forever. The economy has the people scared. If we do not begin to see evidence of a decrease in inflation soon, the Government will have to take drastic action." RAYMOND SAULNIER, former chairman of the CEA (1956-61). "I'm afraid that wage inflation has gone so far now that it requires much more direct intervention by Government. I'm not talking about freezes or mandatory controls. But I am talking about a much more direct, determined and explicit Government intervention. I come to this...
OTTO ECKSTEIN, former member of the CEA (1964-66). "The absence of an incomes policy now is absolutely indefensible. A new office should be set up, headed by a single presidential appointee and staffed by men of the President's choosing. They would draft and implement a firm set of principles on wages and prices. They would have a set of standards to distinguish between so-called 'catchup increases' and new inflationary increases." KERMIT GORDON, former member of the CEA (1961-62). "I am opposed to mandatory controls, but I do feel that wage-price guideposts...
NEIL JACOBY, former member of the CEA (1953-55). "I'm for a review board. It should tie wage hikes to increases in productivity, and should have the power to force compulsory arbitration." PAUL SAMUELSON, M.I.T. economist. "I'm in favor of a much more activist incomes policy than President Nixon has been willing to take, but I stop short of mandatory price controls. I'm for jawboning, for moral suasion. To hold down prices, I would let in more imports, and I would use Government procurement policies...
WALTER HELLER, University of Minnesota professor and former chairman of the CEA. ROBERT NATHAN, head of Robert R.Nathan Associates, a Washington-based economic consulting firm. ARTHUR OKUN, senior fellow of the Brookings Institution, former chairman of the CEA...
...steelworkers in the can industry as "clearly in excess of" productivity gains. The council warned that any such settlement granted to workers in the steel industry at large during this summer's negotiations could be ruinous to the industry's competitive position abroad. This was the first CEA "inflation alert" that sought to influence a pending contract, and it thus brought Nixon one reluctant step closer to forming an official incomes policy. As he continues to pursue the goal of a healthy economy long before Election Day 1972, the President may well have to take more decisive steps...