Word: decontrolled
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...Bulldozer. Indiana's Capehart had been a symbol for decontrol for nearly two years. His Capehart amendment (permitting price hikes to cover all cost increases from the beginning of the Korean war to July 26, 1951) shot price ceilings full of holes and aroused the wrath of the Truman Administration. Harry Truman said it was "like a bulldozer, crashing aimlessly through existing price formulas, leaving havoc in its wake." Little wonder, then, that Capitol Hill was startled this year when Bulldozer Capehart proposed that Congress give the President power to freeze wages, prices and rents for 90 days...
...feel that such exploitation of the coronation would boomerang. Having gone through three general elections in eight years, he is convinced that "the country is sick of elections" and wants a rest from partisan strife. This is why the Churchill government has taken pains to press its denationalization and decontrol programs with calculated gentleness...
...still possible to think that society can get along without price controls. Last week the Eisenhower Administration's sixth decontrol order left the U.S. economy free of wage and consumer controls for the first time since the post-Korea freeze of January 1951. The latest order freed coffee, beer, home-heating oil, soybeans, animal feeds-everything except some nonconsumer products vital to defense: sulphur and sulphur compounds, iron and steel, scarce alloy metals, metal cans, machine tools. A few predictable price rises followed, but they barely rippled overall price indexes, which have been steady since the Administration began...
When the Truman Administration abandoned World War II price and wage controls in November 1946, some people predicted $1-a-loaf bread. Franklin D. Roosevelt Jr. predicted $20-a-pair nylons. Decontrol in 1953 brought forth no such hysterical forebodings, but it was actually a bolder step, because the pressure of rearmament and the Korean war have replaced the 1946 illusion that permanent peace was about to prevail. Although pressure for continued controls was strong, Eisenhower acted on his campaign statement that Government control of prices was not the only or the best way to fight inflation...
...fits & starts, the Administration has been working toward decontrol for weeks: voluntary credit control programs for banks have been suspended; some commodities have been freed from price control; additional quotas of steel, copper and aluminum have been allowed for consumer goods and commercial construction. But the Administration still clings to such measures as Regulation X, which restricts credit for homebuilding. One result of this: the construction industry is not absorbing its full share of structural steel (see Steel). And the Administration still hesitates to remove controls from many important commodities...