In 1974 my friend and mentor Sylvia Porter, the financial columnist, was summoned to Washington by the president, Gerald Ford. She had been asked to head a government effort to reduce inflation, which as a result of the 1973 Arab oil crisis had risen to 12.3 percent. When she got there, she was dismayed. The program consisted of red campaign buttons bearing the message “WIN.” Ford said the letters stood for “Whip Inflation Now.”