A Wage-Price Freeze as an Instrument of Incomes Policy: or the Blizzard of '71

On August 15, 1971, President Nixon fired an economic broadside that was heard around the world. In announcing his New Economic Policy, the President initiated a variety of measures that left few chapters of the standard economic text intact. The circumstances leading to this action and the course o...

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Bibliographic Details
Published in:The American economic review 1972-05, Vol.62 (1/2), p.251-257
Main Author: Weber, Arnold R.
Format: Article
Language:English
Subjects:
Consumer Price Index
Due process of law
Economic policy
Economic sanctions
Issues in Incomes Policy
Price increases
Salary administration
Studies
United States environmental policy
Wage & price controls
Wage adjustments
Wage price policy
Wages
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Summary:On August 15, 1971, President Nixon fired an economic broadside that was heard around the world. In announcing his New Economic Policy, the President initiated a variety of measures that left few chapters of the standard economic text intact. The circumstances leading to this action and the course of events in the subsequent ninety days provide some basis for an understanding of a wage-price freeze as a component of that vague array of governmental interventions known as "incomes policies."
ISSN:0002-8282
1944-7981