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Reflections on Price Control

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  • J. K. Galbraith

Abstract

Introduction, 475.—I. Prewar undervaluation of price control by economists as an instrument of emergency policy, 476. — II. Relation of market structure to informal rationing by the seller, 478. — III. Relation of market structure to enforcement, 480. — IV. Price inflexibility as an aid to price control, 481.—V. Conventional pricing as a further aid, 483. — VI. The period of grace between price-fixing and shortage, 484. — VII. Constant and decreasing costs in relation to price control, 485. — VIII. Concluding disclaimer, and comment on administration, 488.

Suggested Citation

  • J. K. Galbraith, 1946. "Reflections on Price Control," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 60(4), pages 475-489.
    • Handle: RePEc:oup:qjecon:v:60:y:1946:i:4:p:475-489.
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    File URL: http://hdl.handle.net/10.2307/1885144
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    Cited by:

    1. Rogers, George B., 1972. "Price Control Programs, 1917-71: Origins, Techniques, Effects on Food Prices," Agricultural Economic Reports 307468, United States Department of Agriculture, Economic Research Service.

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