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Price Controls

Hardback

Price Controls

9781852784317 Edward Elgar Publishing
Edited by Hugh Rockoff, Professor of Economics, Rutgers, The State University of New Jersey, New Brunswick, US
Publication Date: 1992 ISBN: 978 1 85278 431 7 Extent: 404 pp
Black markets, rationing, shortages – these and other issues are covered in this important collection which presents a selection of the best literature on the impact of price controls on wages, investment and real output in the short and long runs.

The book covers a wide range of episodes ranging from the controls imposed by the Emperor Diocletian in the year 301 A.D. to recent experiments in Sweden. Several essays deal with controls during the two world wars, when some form of control was adopted by most of the industrialized countries. It includes articles by both critics of controls such as Milton Friedman to defenders such as John Kenneth Galbraith. Several are written by scholars who worked as high-level administrators of the programs they discuss.

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Black markets, rationing, shortages – these and other issues are covered in this important collection which presents a selection of the best literature on the impact of price controls on wages, investment and real output in the short and long runs.

The book covers a wide range of episodes ranging from the controls imposed by the Emperor Diocletian in the year 301 A.D. to recent experiments in Sweden. Several essays deal with controls during the two world wars, when some form of control was adopted by most of the industrialized countries. It includes articles by both critics of controls such as Milton Friedman to defenders such as John Kenneth Galbraith. Several are written by scholars who worked as high-level administrators of the programs they discuss.

The book will be an essential reference source for both economists and economic historians with an interest in the price system and the functioning of a market economy.
Contents
PRICE CONTROLS by Hugh Rockoff

Acknowledgements
Introduction

1. H. Michell (1947), ‘The Edict of Diocletian: A Study of Price Fixing in the Roman Empire.’
2. F.W. Taussig (1919), ‘Price-Fixing as Seen by a Price-Fixer.’
3. John Kenneth Galbraith (1952), A Theory of Price Control.
4. Geofrey Mills and Hugh Rockoff (1987), ‘Compliance with Price Controls in the United States During World War II.’
5. Robert J. Barro and Hershel I. Grossman (1974), ‘Suppressed Inflation and the Supply Multiplier.’
6. Paul Evans (1982), ‘The Effects of General Price Controls in the United States during World War II.’
7. Forrest H. Capie and Geoffrey E. Wood, ‘The Anatomy of a Wartime Inflation, Britain 1939-1945.’
8. Daniel Lang (1945), ‘A Reporter at Large: Menus, Nylons, Wiping Cloths and Abdullahs.’
9. Hugh Rockoff (1984), ‘The Korean War.’
10. Milton Friedman (1966), ‘What Price Guideposts?’
11. Robert M. Solow (1966), ‘The Case Against the Case Against the Guidelines.’
12. Milton Friedman (1966), ‘Comments.’
13. Robert Solow (1966), ‘Comments.’
14. Lloyd Ulman and Robert J. Flanagan (1971), ‘Conclusions and Prospects.’
15. Herbert Stein (1978), ‘Price-Fixing as Seen by a Price-Fixer: Part II
16. Alan S. Blinder and William J. Newton (1981), ‘The 1971-1974 Controls Program and the Price Level: An Econometric Post-Mortem.’
17. Charles C. Cox (1980), ‘The Enforcement of Public Price Controls.’
18. Lars Jonung (1981), ‘Price Control Policy in Sweden During the 1970s.’

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