Word: inflationitis
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Dates: during 1960-1969
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Instead, the Socialists helped crush the Kaiser by leading the revolution that broke out in the closing days of World War I. When the Weimar Republic was established in 1919, the first government was led by the Socialists, who ruled for two years. It was a dubious honor. Socialist Foreign...
IN its frustrating struggle against inflation, the Nixon Administration has relied almost entirely on classic, conservative weapons. The Government has severely constricted the supply of money and restricted its own spending. Most economists agree that this is the proper course. But the stubborn persistence of price increases is straining the...
Nine-Month Wait. Despite some internal debate, the Administration has shown more inclination to defend its strategy than to change it. Paul McCracken, the President's chief economist, insisted last week that the economy is entering "a period of transition" and that "we must not lose our cool." He...
The public is not impressed with that sort of optimism. There is usually a distressing lag between the time an anti-inflationary policy is adopted and the time when prices actually start to level off. Economists figure that it takes six to nine months for tight-money policies to slow...
Campaign for Controls. The slowness of this schedule prompts the cry for more direct action against prices. Senator Daniel Inouye of Hawaii warned the annual conference of the American Bankers Association in Honolulu last week: "No one likes wage and price controls, but we may have to institute them temporarily...