Economic Stabilization Act of 1970
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Economic Stabilization Act of 1970 was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers. It established standards to serve as a guide for determining levels of wages, prices, etc., which would allow for adjustments, exceptions and variations to prevent inequities, taking into account changes in productivity, cost of living and other pertinent factors. Seeking reelection…mehr

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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Economic Stabilization Act of 1970 was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers. It established standards to serve as a guide for determining levels of wages, prices, etc., which would allow for adjustments, exceptions and variations to prevent inequities, taking into account changes in productivity, cost of living and other pertinent factors. Seeking reelection in the 1972 presidential race, President Richard Nixon had to tackle complex economic issues to achieve reelection. The radical and rapid changes of the late 1960s such as the Vietnam War and the 1970s Energy Crisis, combined with workforce shortages and the rise in Healthcare cost caused the country to face a recession.