Phase Six

September 1978
National Review;9/29/1978, Vol. 30 Issue 39, p1192
This article presents information on the economic conditions in the U.S. It is reported that wage increases had been slowing down each year and prices of consumer durable goods had actually, been falling. It is stated that the economy was full of idle men and machines. Inflation was too tiny to measure. The distinction between voluntary and mandatory controls has become increasingly blurred. According to Representative Parren Mitchell, a strategy of reducing the growth of the money supply by one percentage point each year, until it stays on a 3 per cent trend should be adopted to cure inflation in the country.


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