A day that should live in infamy

posted by
August 16, 2011
by David Henderson  
Posted in Commentary

"Today is the 40th anniversary of President Nixon's announcement of price controls on the American economy. He imposed an immediate freeze on all wages and prices that lasted for 90 days. Then he went through the various phases of control, leading to decontrol by 1974. With one main exception: oil and gasoline. Controls remained on oil and gasoline and these controls led to a lot of damage." (08/15/11)


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