Show 6 J H Price Controls V Would Hinder Inflation Fight The National A Association of Manufacturers recently cautioned cautioned cau cau- boned legislators against rein- rein wage wage price price controls The rhe nation is still suffering from th the damage done by the wage wage price control system that was abolished 14 months month ago Austin J J. J Paddock executive vice president and chief operatIng ing officer Pennsylvania Engineering Engineering Engineering Engi Engi- Corp told the House Banking Currency and Housing Hous Hous- ing Committees Committee's Subcommittee on Economic Stabilization Mr tJ Paddock who I Is h chair chair- man man of NAM's Committee on Economic Policy declared legislation legislation leg leg- aimed at new attempts at government Wage-price Wage InterVention in intervention In In- would obstruct rather n thin assist the current t toward dward tt a more moderate rate of inflation He fie cautioned that a business firm will be inhibited In Inhibited inhibited in- in in experimental moves toward price reduction if it might subsequently be locked into lower price schedules by renewed price control action Mr Paddock k urged restraint in federal spending noting that if if national fiscal final and monetary policy Is mishandled there is a areal areal areal real likelihood of a new wave of inflation The NAM spokesman said the free market j is needed more than ever in a n time of energy shortage since it is h the most efficient and least painful means of keeping the ec economy nomy in adjustment ad aJ- In chang changing ng g circum circum- stanc s. s He Fie Indicated the NAM supports UK which would continue the life of the Council on Wage and Price Stability with no significant changes in its p powers and duties |