President Nixon last week appointed Dean Dunlop to head a committee which will enact a "self-regulating" wage-price control system in the construction industry.

The 12-man Construction Industry Stabilization Committee was formed as a result of recommendations by a Presidential committee which Dunlop led.

According to Dunlop, the committee has three major objectives-to curb inflationary wage and price rises, to cut down the number of strikes and to begin long-range reforms of bargaining in the construction industry. Workers, contractors and "objective specialists" are equally represented on the committee.

Although Nixon has publicly opposed wage and price controls, the committee will be able to veto wage de-holding government funds and commands they consider excessive by with-tracts. When asked if he thought this method can effectively control inflation, Dunlop said, "It would be easier if the committee had full wage-price control power, but I expect we can reach our objectives through mediation."

Dunlop, author of The Theory of Wage Determination, has been an active labor mediator since 1945.