The Economic Stabilization Act of 1970 (Pub.L. 91-379, 84 Stat. 799, enacted August 15, 1970) was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers. It established standards to serve as a guide for determining levels of wages, prices, etc., which would allow for adjustments, exceptions and variations to prevent inequities, taking into account changes in productivity, cost of living and other pertinent factors.
Read more about Economic Stabilization Act Of 1970: Background, Duties and Obligations Under This Act, Public Benefits, Challenging The Stabilization Act, Administrative History
Famous quotes containing the words economic and/or act:
“Society’s double behavioral standard for women and for men is, in fact, a more effective deterrent than economic discrimination because it is more insidious, less tangible. Economic disadvantages involve ascertainable amounts, but the very nature of societal value judgments makes them harder to define, their effects harder to relate.”
—Anne Tucker (b. 1945)
“Each victim of suicide gives his act a personal stamp which expresses his temperament, the special conditions in which he is involved, and which, consequently, cannot be explained by the social and general causes of the phenomenon.”
—Emile Durkheim (1858–1917)