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Nixon Phase II plan draws cautious support from business leaders
Business leaders backed preliminary elements of President Nixon Phase II economic program while labor voiced cool reaction. Economists from both parties warned of a tough fight to implement the plan. Milton Friedman criticized the lack of detail. Walter Heller urged decisive enforcement. John Kenneth Galbraith praised the shift away from crisis prone systems. AFL-CIO hinted at a perceived double cross over wage and price boards. Chamber of Commerce urged austerity and outlined wage, price guidelines aligned with productivity. Congressional reaction was restrained with Mills and Proxmire voicing concerns on unemployment and board power.
MENTIONED IN THIS ARTICLE
Waslington
Nixon
Milton Friedman
Walter Heller
Heller
University of Minnesota
John Kenneth Galbraith
Afl-Cio
George Meany
Council
White House
Meany
U.S. Chamber of Commerce
Chamber
Wilbur Mills
D Ark
House
Ways and Means
Hubert
Eimphrey
William Proxmire
N-Wis
Joint
Senate
House ‘Economic Committee
Proxmire
Congress
Humphrey
Enid
Okla
Commerce
Maurice Stans
Pierre Rinfret
Rinfret
Galbraith
Cambridge
Mass
Friedman
University of Chicago
Vermont
James Reche
General Motors Corp
Wright Patman
Dtex
House Banking Committee
Eliot Janeway
Janeway