During the 1970s, Republican presidents Richard Nixon and Gerald Ford and Democratic president Jimmy Carter all attempted to control inflation by

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Both Republican presidents Richard Nixon and Gerald Ford and Democratic president Jimmy Carter attempted to control inflation by using both voluntary and mandatory price controls. They believed that by limiting the prices charged by producers and retailers, they could limit the rise in prices for consumers, thereby reducing inflation. However, this approach proved to be ineffective in the long run as it created shortages in goods and services, leading to further economic problems.

During the 1970s, Republican Presidents Richard Nixon and Gerald Ford