Transitional Supply and Demand Management Measures

  • Keith Griffin
  • Jeffrey James


In Chapter 2 we explained why the market mechanism is incapable of contending successfully with the structural changes that accompany a massive redistribution of income and wealth in favour of the poor. In the previous chapter we explained why it is so difficult for conventional policies to reach all those in poverty, even when those policies are applied with considerable vigour. Chapters 2 and 3 taken together provide the starting point for this chapter. Our purpose here is to describe how an integrated set of supply and demand management measures might be designed to cope with the structural disequilibria that inevitably will arise during the period of transition.


Excess Demand Supply Management Marketable Surplus Ration Shop Wage Good 
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Notes and References

  1. 1.
    Roy Harrod, Policy Against Inflation (Macmillan, 1960) p. 98.Google Scholar
  2. 2.
    W. B. Reddaway, ‘Rationing’, in National Institute of Economic and Social Research, Lessons of the British War Economy (Cambridge University Press, 1951 ) p. 183.Google Scholar
  3. 8.
    Dudley Seers, ‘Cuba’ in H. Chenery et al., Redistribution With Growth (Oxford University Press, 1974) p. 267.Google Scholar
  4. 10.
    Dwight H. Perkins, ‘Price Stability and Development in Mainland China (1951–1963)’, Journal of Political Economy, August 1964, p. 372.Google Scholar
  5. 14.
    M. Kalecki, ‘Inflation, Wages and Rationing’, in Oxford University Institute of Statistics, Studies in War Economics (Blackwell, 1947 ) p. 148.Google Scholar
  6. 16.
    See P. T. Bauer, ‘Price Control in Underdeveloped Countries’, in P. T. Bauer and B. S. Yamey, Markets, Market Control and Marketing Reform (Weidenfeld and Nicolson, 1968 ).Google Scholar
  7. 18.
    A. P. Lerner, The Economics of Control (Macmillan, 1944 ).Google Scholar
  8. 20.
    John Burnett, Plenty and Want: A Social History ofDiet in England from 1815 to the Present Day (Nelson, 1966) p. 218.Google Scholar
  9. 27.
    Dwight H. Perkins, Market Control and Planning in Communist China (Harvard University Press, 1966) p. 193.Google Scholar
  10. 28.
    James Tobin, ‘A Survey of the Theory of Rationing’, in Essays in Economics, vol. 2, (North-Holland, 1975 ).Google Scholar

Copyright information

© Keith Griffin and Jeffrey James 1981

Authors and Affiliations

  • Keith Griffin
  • Jeffrey James

There are no affiliations available

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