we wanted to increase -- he hold his fed chairman, arthur burns, who had known well as the eisenhower white house, i want you to print money like crazy and cause inflation. that will solve my unemployment problem. then i'm going to count act with price controls. so we're going to have jobs because we're causing inflationary pressure. but we're not going to have inflation because i'm going to out law it. the best of all words. stable price level with employment caused by inflationary pressure. ford changes the policy. he said, okay. inflation is bad. no matter what. what i'm going to do is i'm going to ask the american people to stop buying things. if you stop buying things, there's no incentive to raise the price. here's what i'm not going to buy this week that i did buy last week. then carter came in and said, now it's time to get serious. i figured out inflation problems. we have to go on the couch and we can come out on the other side and will solve it. as for the top economist, how about them? yes, i'm going to kiss -- diss yale in harvard. okay. house of economic advisor member,

he told his fed chairman, arthur burns, whom he had known very well when they were both in the eisenhower white house -- he told him i want to go off the gold standard and you're going to print money like crazy and it will cause inflation. and there's a tradeoff of inflation and unemployment. i want to print money like crazy and cause inflation and that will solve my unemployment problem but i will counteract that with price controls. so we're going to have jobs because we're causing inflationary pressure but we're not going to have inflation because it's outlawed. we'll have the best of all worlds. we'll have a stable price level with employment caused by inflationary pressures. it's ridiculous. everybody alluded the price controls and ford changed this policy and he said, okay, okay. inflation is bad no matter what. i'm going to ask the american people to stop buying things. and he said 'cause if you stop buying things there's in insixteen to raise the prices. -- incentive to raise the prices. that failed. and then carter came in and said, okay, now it's time to get serious. i figured o