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Wage control would, he believed, guarantee "expansion without inflation".
They supported price (but not wage) control, Medicare, some kind of national health insurance, federal aid to education and social security.
Hence the demagogic call for energy "price caps," always politically satisfying at first -- populist interference with the market's self-correction that would lead to worse shortages and rationing, to inflation and wage control.
The very sacrifices that have made German products more competitive and helped the country outpace its weaker, less disciplined European partners — strict wage control, a retirement age rising to 67 from 65, lower welfare payments and eased hiring and firing — have resulted in a deep feeling of insecurity.
Welcome to wage control.
So you can well imagine that the rest of Wall Street does not want that pathetically paltry wage control idea to spread anywhere near them.
Similar(54)
In 1942, Franklin Roosevelt imposed wage controls on American companies.
"Neoliberals" favor wage controls, reduced government spending, and the privatization of state-held enterprises.
That Americans receive insurance from their employer is a relic of World War II wage controls.
A siren call for price and wage controls would once again befoul the air.
This led the Roosevelt Administration to impose national wage controls to prevent inflationary increases in labor costs.
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