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President Nixon & John Ehrlichman Discuss Economic Policy As Wage-Price Controls are Relaxed

White House tape of Feb. 5, 1973. Nixon and Ehrlichman discuss whether partial decontrol from Phase II to Phase III was a good idea. Ehrlichman is unsure. Although the end of fix exchange rates is just days away as the dollar comes under pressure, there is little mention of it. Nixon is sure the dollar exchange rate is not undermining business confidence. He believes business liked government controls because it held down wages and that business likes wartime prosperity. Various individuals are discussed in the context of economic policy including George Shultz, Senator Scoop Jackson, William McChesney Martin, Arthur Burns, and Herb Stein. (Video for Mitchell's Musing blog on employmentpolicy.org.)
Length: 11:59

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