----------------- HES POSTING ----------------- [NOTE: Abu Rizvi provided the most complete citation for the quote, and I posted his message with that information separately. My thanks to the others who knew the quote's source: Brian Eggleston, Peter Rodenburg, Torsten Schmidt, and Dan Bromley. Torsten also pointed out that the quotation provided in the original query is not an exact quote. Prabhu may want to check it before using it. Finally, I posted Abu's message without removing his inclusion of the original message or cleaning up the subject line. My apologies -- I can only blame it on all my marking! -- RBE] Sounds like his ‘Social Responsibility of Business’ essay published in the New York Times Magazine on September 13th, 1970 (I can't find my copy). He had formulated the ideas earlier. Indeed, in January 1970, in his first press conference as President, Nixon indicated that he would “continue to avoid the use of presidential persuasion to convince business and labor to hold prices and wages down”. He stated that the “primary responsibility for controlling inflation rests with the national administration and its handling of fiscal and monetary affairs”. The business community had to be guided by “the interests of the organisation that they represent” and should not be controlled by guidelines and exhortation (The Washington Post 31 January 1970). Shortly afterwards, (April 27, 1970), in a meeting with Nixon in the Oval Office, Friedman and Pierre Rinfret (according to one source) "nearly came to blows" over the issue. Robert Leeson ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]