The Efficacy of Price Control to Address Wartime Inflation
Title | The Efficacy of Price Control to Address Wartime Inflation PDF eBook |
Author | William Carlos Grover |
Publisher | |
Pages | 236 |
Release | 2015 |
Genre | Anti-inflationary policies |
ISBN |
To manage an economy during a large-scale war, a popular viewpoint among scholars mandates the implementation of price controls. The reasons for this view are many and include inflation, war material production, and labor productivity. This study assesses the claim that price controls are a necessity during war. To do this a counterfactual argument was constructed that analyzed the economic efficiency of price controls against a free market during a large wartime event. Explicitly, the Union during the Civil War and the United States during World War II are compared. It is shown that the free market had a larger output for three goods: flour, coal, and wool. This positive counterfactual result means that the claim, which states that during war a price control market causes higher GDP, is false. Therefore, the viewpoint of scholarship where price controls are a necessity during a large war needs to be rejected or modified.
What Wartime Price Control Means to You
Title | What Wartime Price Control Means to You PDF eBook |
Author | United States. Office of Price Administration. Consumer Division |
Publisher | |
Pages | 28 |
Release | 1942 |
Genre | Government publications |
ISBN |
Wartime Prices, Price Control, and Rationing in Foreign Countries ....
Title | Wartime Prices, Price Control, and Rationing in Foreign Countries .... PDF eBook |
Author | Faith Moors Williams |
Publisher | |
Pages | 44 |
Release | 1946 |
Genre | Cost and standard of living |
ISBN |
What Wartime Price Control Means to You
Title | What Wartime Price Control Means to You PDF eBook |
Author | United States Price Administration Office |
Publisher | |
Pages | 24 |
Release | 1942 |
Genre | |
ISBN |
The Economics of World War I
Title | The Economics of World War I PDF eBook |
Author | Stephen Broadberry |
Publisher | Cambridge University Press |
Pages | 363 |
Release | 2005-09-29 |
Genre | History |
ISBN | 1139448358 |
This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
General Maximum Price Regulations
Title | General Maximum Price Regulations PDF eBook |
Author | United States. Office of Price Administration |
Publisher | |
Pages | 0 |
Release | 1942 |
Genre | Prices |
ISBN |
Omnipotent Government
Title | Omnipotent Government PDF eBook |
Author | Ludwig Von Mises |
Publisher | Read Books Ltd |
Pages | 393 |
Release | 2011-03-23 |
Genre | History |
ISBN | 1446545598 |
Liberty is not, as the German precursors of Nazism asserted, a negative ideal. Whether a concept is presented in an affirmative or in a negative form is merely a question of idiom. Freedom from want is tantamount to the expression striving after a state of affairs under which people are better supplied with necessities. Freedom of speech is tantamount to a state of affairs under which everybody can say what he wants to say. At the bottom of all totalitarian doctrines lies the belief that the rulers are wiser and loftier than their subjects and that they therefore know better what benefits those ruled than they themselves. Werner Sombart, for many years a fanatical champion of Marxism and later a no less fanatical advocate of Nazism, was bold enough to assert frankly that the Führer gets his orders from God, the supreme Führer of the universe, and that Führertum is a permanent revelation.* Whoever admits this, must, of course, stop questioning the expediency of government omnipotence. Those disagreeing with this theocratical justification of dictatorship claim for themselves the right to discuss freely the problems involved. They do not write state with a capital S. They do not shrink from analyzing the metaphysical notions of Hegelianism and Marxism. They reduce all this high-sounding oratory to the simple question: are the means suggested suitable to attain the ends sought? In answering this question, they hope to render a service to the great majority of their fellow men.