Price Controls in War and Peace: A Marshallian Conclusion

22 Pages Posted: 2 Dec 2002


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

Capie, Forrest and Wood, Geoffrey E., Price Controls in War and Peace: A Marshallian Conclusion. Available at SSRN:

Forrest Capie (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom
020 7601 3680 (Phone)

Geoffrey E. Wood

Cass Business School ( email )

London, EC2Y 8HB
Great Britain
+44 0 20 7040 8740 (Phone)
+44 0 20 7040 8881 (Fax)

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