To assist policy makers, scholars, businessmen, the press, and the public by providing objective analysis of national and international issues, this research institute has presented a special economic analysis which details the views of a University professor of economics on the recent United States wage-price freeze. Focusing on the shortcomings of national and international monetary policies and economic performance, the author discusses the implications of monetary instability, inflation, and recession from the viewpoint of "monetarism", an economic theory which assumes that changes in the money supply dominate the total flow of spending in an economy. A table presents data giving the annual percentage rates of change in the U.S. money supply, industrial production index, and consumer price index over selected periods, from 1959 to 1971. Both the author's pre- and post-freeze suggestions are included, as well as opposing economic viewpoints. (AG)