Tax-Based Incomes Policies: A Better Mousetrap?
There is widespread agreement that inflation is Economic Enemy Number One. It has become the top priority because of a decade of benign neglect — a period in which inflation was outranked by other priorities (Vietnam, Watergate, unemployment) or in which efforts to combat inflation were short lived (as in the Nixon wage-price controls) or a joke (Ford’s Whip Inflation Now).
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