FREEDOM AND PUBLIC POLICY: THE RULE OF LAW AND A 'COURT OF ECONOMICS' FOR PRICE-WAGE PROBLEMS.

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    • Subject Terms:
      UNITED States
    • Abstract:
      The article deals with issues being faced by the United States concerning its price-wage policy. The factors influencing the price-wage policy problems are public planning or policy and private planning. The author questions whether public policy truly endangers individual freedom. A definition of public interest is given in terms of public responsibility to plan for the public welfare. The author recommends a kind of Court of Economics to hear arguments on policy such as the price-wage issue. The advisory nature of such a court could soften error in the search for wisdom.