World Events

Abstract

The American people are face to face with a momentous question: Can a private enterprise economy work beneficially and satisfactorily under the conditions presently existing in the United States? On August 15, 1971, the President of the United States in a brief broadcast suggested that private enterprise was so badly messed up that a ninety-day economic holiday was necessary to revive the ailing economy. During that three-month respite, the President announced, certain aspects of the economy would be supervised by a "Cost of Living Council within the government."

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