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Price Controls
The idea of price controls is suddenly back, it seems, after decades of basically disappearing from most policy discussions. The president at the time was richard nixon and economic problems he was dealing with then are among the ones we were dealing today - namely inflation. Adam Sobel: Can you walk me through the mechanics here? I mean, you have a government office that would decide what the prices of specific commodities should be. You'd end up having to work with industries, with supplies, with retailers, the entire chain.