We have been here before. In the 1970s, President Gerald Ford urged Americans to combat escalating energy costs in response to the Arab-Israeli war. His Whip Inflation Now initiative encouraged people to grow vegetables in their yards, car pool, and use cold water in the laundry. WIN badges were churned out and Ford loved pinning them on lapels. Even ex-Beatle George Harrison got one during a White House visit.

The exercise was more public relations than serious policy. But half a century on, Asian leaders are asking people to again adapt their habits as oil and gas prices jump due to conflict in the Middle East: Work in short sleeves, ease up on the air conditioning, skip the elevator, they are advised. Now as then, the measures aren’t a substitute for effective monetary or fiscal practices. They represent a short holding pattern, at most.

© Bloomberg