THE ECONOMY: The World's Crisis

Far beyond the thunder and lightning of the Little Rock crisis, the free world's major nations were caught up last week in a problem that nags more lives than race segregation or conflict between states' rights and federal powers. The problem: inflation. The U.S. Bureau of Labor Statistics announced that its consumer price index had edged upward for the twelfth month in a row, with an August rise of .2 lifting the index to a record high of 121.0 (the 1947-49 average = 100) as compared with 116.8 a year earlier. Because...