Indexing and inflation — with Milton Friedman (1974) | ARCHIVES

1974: To combat inflation, the United States attempted to regulate wages and prices, so neither would go up dramatically. But economic controls were not successful, and may have even made inflation worse. Another strategy, called indexing, ties wages and interest payments to increases in inflation, but also presents its own set of problems. Panelists: Milton Friedman — Professor, University of Chicago Charls Walker — Former Deputy Secretary of the Treasury William Fellner — Member, Council of Economic Advisers Robert J. Gordon — Professor, Northwestern University Moderator: Eileen Shanahan