Reviewing President Carter's economic policy after his first few months in office, Professor Wertheimer assumes a critical attitude particularly towards Carter's energy package and anti-inflation policies which, in his opinion, show serious flaws, limitations and lack of imagination.

It has been quite obvious for several years already that the attempts to achieve the aim of price stability are running into the greatest difficulties. While the rates of inflation are escalating in almost all countries, it is becoming increasingly clear at the same time that the authorities...