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094696 1 (1978-10-18)

handle is hein.gao/gaobaculq0001 and id is 1 raw text is: 
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                                                     094698

                      REMARKS OF
                   ELMER B. STAATS
        COMPTROLLER GENERAL OF THE UNITED STATES
           BEFORE A CONFERENCE ON INFLATION
         SPONSORED BY SENATOR CHARLES H. PERCY,

     IMPROVING PRODUCTIVITY: AN IMPORTANT TOOL IN THE
                  CONTROL OF INFLATION

                  CONRAD HILTON HOTEL
                  CHICAGO,  ILLINOIS
                    OCTOBER 18, 1978

     Most Americans would agree that the need to reduce the

present high inflation rate in the United States is near the

top of the priority issues facing the Nation.  There is wide

disagreement, however, as to the causes of our inflation and

how to bring it under control.  Most would agree that control

of inflation will not come about quickly nor will it come about

in response to a single solution.

     As one who has had a long-interest in the subject of

productivity growth, I am encouraged by the increasing attention

being given to the part which improved productivity growth can

play in the long-term fight against inflation.  This conference,

sponsored by Senator Percy, reflects that growing interest

and I commend him for underscoring its importance as a key

factor in the fight against inflation.

     Let us take a moment to look at the record.  After the

Nation's experience with double-digit inflation during 1974,

the rate has continued at an unacceptable level in the 6- to

8-percent range.  The price situation appeared to worsen in

the first half of this year with both the Consumer Price Index


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