Everybody talks about price control, but not many of us know what to expect of it, and when and how it should be used. In nontechnical language, Galbraith supplies the underlying economic ideas which will help readers understand how particular controls affect the general operation of the economy. He shows why price controls during World War II worked as well as they did and he analyzes the criteria for effective price control both under a fully mobilized economy and under limited mobilization.
John Kenneth Galbraith was Paul M. Warburg Professor of Economics, Emeritus, at Harvard University. James Goodman is Associate Professor of History at Rutgers University.