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Thursday July 25, 1974, Economic Address--Los Angeles [4 of 4]

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Price FIFTH DRAFT July 24, 1974 Words: 3447 L.A. ECONOMIC SPEECH 'If dr I want to address the major problem confronting America today inflation the rising level of prices that you as businessmen, along with workers, housewives everyone must pay for what you buy. I want to discuss with you where we are in the fight against inflation, how we got here, and what we are doing about it. Let me begin by touching briefly on the nature and causes of the inflation we have been experiencing. Basically, we and the other industrialized nations have had a generation of inflation because governments all over the world, for a long period of time, have permitted and oven encouraged the demand for goods and services to outrun the capacity to meet that demand with rising production.

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