January 1975
National Review;1/17/1975, Vol. 27 Issue 1, p19
The article reports that according to the prediction of Paris-based Organization for Economic Cooperation and Development (OECD), U.S. real output will decline by 2 per cent next year, which is contrary to the opinion of most U.S. economists. Economists Michele Fratianni of Indiana University and John Pattison of the Ontario Economic Council presented a detailed critique of OECD literature at a Carnegie-Rochester conference. The OECD has been advocating the use of wage-price controls since 1962, and favored fixed exchange rates until members started floating.


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