University of Virginia Library

Job Unfinished

Whether or not Mr. Nixon's
NEP will prove sufficient to earn
him another term in the White
House is anyone's guess. But
whatever else the NEP may
accomplish, it seems fairly certain,
that it will leave unfinished the job
that Mr. Nixon set out to do when
he assumed the Presidency—Bring
the inflation to an end. One thing is
indisputably clear. Inflation is a
more serious social problem than
many people have believed
heretofore. If we ever succeed in
getting back on the stable growth
path, our policy makers must take
particular pains to avoid the sort of
go-stop-go monetary fiscal policies
that led to the present predicament.