Word: harrimans
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Dates: during 1970-1979
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Jawboning and Arm Twisting. A number of critics have been urging the Administration to abandon its hands-off policy toward specific wage and price increases. Robert Roosa, the former Treasury Under Secretary who is now a partner in Brown Bros. Harriman, makes the extreme proposal that Nixon should appeal for a six-month voluntary freeze on all wages, prices and dividends. He argues that inflationary psychology has become so deeply ingrained that it will not be wiped out by a business slowdown "unless it reaches the disastrous scale of a depression...