Question

Describe the general outlines of Nixon's economic policy. Was it consistent? Was it effective?

Answer 1

He focused on the inflation rate.  He concentrated on mandatory price controls. This covered rent, wages and other prices as a solution to resolve the inflation. This also enabled the dollar to float compared to other currencies.  Unfortunately it had a negative response to businessmen as it resulted in food shortages.  The inflation also returned which meant that the solutions were a failure.