Phase III was part of the Economic Stabilization Act of 1970 which Nixon used to ‘fight inflation.’
Phase I – 90-day price and wage freeze
Phase II – a Cost of Living Council establishes wage and price controls.
Phase III – another price freeze to balance out the economy.
Phase IV – voluntary compliance and gradual decontrol
Apparently it is not working.
Parker and Hart
Mastroianni and Hart
Phase III was part of the Economic Stabilization Act of 1970 which Nixon used to ‘fight inflation.’
Phase I – 90-day price and wage freeze
Phase II – a Cost of Living Council establishes wage and price controls.
Phase III – another price freeze to balance out the economy.
Phase IV – voluntary compliance and gradual decontrol
Apparently it is not working.