The Week

■ A nostalgic look at Phase Zero: In the seven months before wage and price controls, consumer prices were rising at an annual rate of 3.8 per cent, wholesale prices at less than 5 per cent. In the 14 months of Phase II, consumer prices rose at a 3.7 per cent rate, wholesale prices at 6.9. In the first three months of Phase III, consumer prices rose at an annual rate of 8.8 per cent, wholesale prices at 21.2 per cent. With this kind of improvement, Phase IV should be able to get consumer price inflation down to 15 per cent, and wholesale inflation down to 25 per cent.

■ Not to be outdone, the Federal Trade Commission is making Hawaiian Punch disclose its fruit-juice content in paid advertising, because the FTC thinks that a drink that advertises itself as “fruit-juicy” ought to have more fruit juice in it than Hawaiian Punch has. A crisis indeed. How much fruit juice should there be in fruit-juicy punch? What does the Constitution have to say about it? If there is enough fruit juice in the punch to kill the taste of FTC vodka, isn’t that enough to kill FTC junkets to Hawaii? Is Juicy Fruit gum next?

Featured Tags

■ A nostalgic look at Phase Zero: In the seven months before wage and price controls, consumer prices were rising at an annual rate of 3.8 per cent, wholesale prices at less than 5 per cent. In the 14 months of Phase II, consumer prices rose at a 3.7 per cent rate, wholesale prices at 6.9. In the first three months of Phase III, consumer prices rose at an annual rate of 8.8 per cent, wholesale prices at 21.2 per cent. With this kind of improvement, Phase IV should be able to get consumer price inflation down to 15 per cent, and wholesale inflation down to 25 per cent.

■ Not to be outdone, the Federal Trade Commission is making Hawaiian Punch disclose its fruit-juice content in paid advertising, because the FTC thinks that a drink that advertises itself as “fruit-juicy” ought to have more fruit juice in it than Hawaiian Punch has. A crisis indeed. How much fruit juice should there be in fruit-juicy punch? What does the Constitution have to say about it? If there is enough fruit juice in the punch to kill the taste of FTC vodka, isn’t that enough to kill FTC junkets to Hawaii? Is Juicy Fruit gum next?