Study
| EST. READ TIME 1 MIN.Have Controls Ever Worked? The post-war record
Worsening inflation produces a growing call for governments to do something about it. A seemingly attractive policy choice is the introduction of wage and price controls. In view of Canada's current anti-inflation program, this study (the second in a three-part series) is particularly timely. This book features two papers; the first, analyzes Britain's eleven periods of wage and price controls since the war, and the second analyzes President Nixon's Economic Stabilization Program which began with the surprising Freeze of August 1971 and ended in April 1974 with Congress refusing to renew authorization.
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Michael Darby
Michael R. Darby was born in Dallas, Texas in 1945 and was graduated from Dartmouth College in 1967 before takinghis PhD. at the University of Chicago in 1971. Professor Darby taught at Ohio State University as an Assistant Professor before moving to the University of California at Los Angeles where he is presently Associate Professor of Economics. During 1975 Professor Darby was on academic leave as Harry Scherman Research Fellow, National Bureau of Economic Research, New York.Professor Darby's recent publications include a text book, Macroeconomics: The Theory of Income, Employment and the Price Level, McGraw Hill, New York, 1976. Other scholarly works of Professor Darby recently appeared in the Quarterly Journal of Economics, (The Permanent Income Theory of Consumption: A Restatement, May, 1974) and the Journal of Political Economy, (Three-and-a-Half Million U.S. Employees Have Been Mislaid: or, an Explanation of Unemployment, 1934-1941, February, 1976).… Read more