Review of the Council of Economic Advisers' 1972 Report.

The article comments on the report of the Council of Economic Advisers for the year 1972 in the United States. The author offers criticism towards the council and its findings. The author reports that members of the council did not oppose wage and price controls, yet no member made any proposals. Members of the council claim that controls will and have reduced expectations of inflation. The author disagrees with the council's assertion that inflation is the result of powerful economic groups taking advantage of the market place, and that it is the result of an expansion in the money supply relative to demand.