Will It Work? For Whom?.

As soon as the U.S. President Richard Nixon incomes policy came into play on August 15, 1971, businessmen and financiers who had prayed for strong government controls on the setting of wages and prices began wondering if the New Economic Program would "work." It became fashionable, particularly on Wall Street, New York, to suppose that it could not "work," and the correct "line" was to argue that the sooner the controls came off the better, as if the Administration could possibly permit a return of the drift toward economic depression that had prevailed before August 15, 1971.