Nixonomics in Retrospect: Devaluation and Wage-Price Controls, August 15, 1971
Estimated Reading Time: 5 minutes
Fifty years ago, in July 1971, I wrote “The Case Against Wage and Price Control” and sent it to National Review. I was early because I could see it coming. Sure enough, on August 15, President Nixon announced a 90-day freeze on wages, prices, and rents. One year earlier, Congress had granted the President a […]