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Drastic Measures

Details

  • Page extent: 302 pages
  • Size: 228 x 152 mm
  • Weight: 0.61 kg

Library of Congress

  • Dewey number: 331.2/973
  • Dewey version: 19
  • LC Classification: HC110.W24 R6 1984
  • LC Subject headings:
    • Wage-price policy--United States--History

Library of Congress Record

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Hardback

 (ISBN-13: 9780521244961 | ISBN-10: 052124496X)

DOI: 10.2277/052124496X

Manufactured on demand: supplied direct from the printer

 (Stock level updated: 01:59 GMT, 29 August 2015)

£69.99

This is a history of America's use of wage and price controls from colonial times to Richard Nixon's experiment with controls in the 1970s. It explores the impact of controls on prices and productivity, side-effects such as the growth of black markets and the expansion of government, and the relationship between controls and monetary policy. The central conclusion is that, contrary to the conventional wisdom, there are situations where the net effect of controls can be positive. In particular, temporary controls may reduce the unemployment and lost output usually associated with disinflation.

Contents

Editors' preface; Preface; 1. The debate over controls; 2. Forgotten experiments; 3. World War I; 4. World War II: attacking inflation directly; 5. World War II: the market under controls; 6. The Korean War; 7. The Vietnam War; 8. Lessons for the recent crisis; Notes; Bibliography; Name index; Subject index.

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