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Price Controls in War and Peace: A Marshallian Conclusion

Author

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  • Forrest Capie
  • Geoffrey Wood

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.

Suggested Citation

  • Forrest Capie & Geoffrey Wood, 2002. "Price Controls in War and Peace: A Marshallian Conclusion," Scottish Journal of Political Economy, Scottish Economic Society, vol. 49(1), pages 39-60, February.
  • Handle: RePEc:bla:scotjp:v:49:y:2002:i:1:p:39-60
    DOI: 10.1111/1467-9485.00220
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    Cited by:

    1. Geoffrey Wood, 2006. "364 Economists on Economic Policy," Econ Journal Watch, Econ Journal Watch, vol. 3(1), pages 137-147, January.
    2. Tetsuji Okazaki, 2022. "Controlling Funds Allocation for the War: The Experience of Japan in the Late 1930s," CIRJE F-Series CIRJE-F-1191, CIRJE, Faculty of Economics, University of Tokyo.
    3. Tetsuji OKAZAKI, 2022. "Controlling Funds Allocation for the War: The Experience of Japan in the Late 1930s," CIGS Working Paper Series 22-005E, The Canon Institute for Global Studies.

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