Price Controls in War and Peace: A Marshallian Conclusion
Forrest Capie and
Geoffrey Wood
Scottish Journal of Political Economy, 2002, vol. 49, issue 1, 39-60
Abstract:
Price controls are a very old means of trying to contain inflation. In Britain they were used in the Second World War and again in the 1960s. On the first occasion they seemed to work quite well though there were other factors involved—notably rationing. The second episode was not successful. Rationing seems to have been crucial.
Date: 2002
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