Abstract
The fixing of prices by public action is of exceedingly ancient origin; popular economic cliché associates it with the Edict of Diocletian, and economic history dwells at length on the controls exercised and imposed by the medieval guilds. Only in modern times, roughly the last 200 years, has it fallen under the general disapproval and interdict of orthodox economic attitudes and has it been seen therein as a temporary or aberrant departure from free-market principles.
This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman
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Bibliography
Galbraith, J.K. 1952. A theory of price control. Cambridge, MA: Harvard University Press.
Keynes, J.M. 1940. How to pay for the war. London: Macmillan; New York: Harcourt, Brace and World.
Mitchell, H. 1947. The Edict of Diocletian: A study of price fixing in the Roman empire. Canadian Journal of Economics and Political Science 13(February): 1–12.
Rockoff, H. 1984. Drastic measures: A history of wage and price controls in the United States. Cambridge: Cambridge University Press.
Taussig, F.W. 1919. Price-fixing as seen by a price-fixer. Quarterly Journal of Economics 33(February): 205–241.
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Galbraith, J.K. (1987). Price Control. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_1577-1
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DOI: https://doi.org/10.1057/978-1-349-95121-5_1577-1
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Price Control- Published:
- 07 March 2017
DOI: https://doi.org/10.1057/978-1-349-95121-5_1577-2
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Price Control- Published:
- 15 November 2016
DOI: https://doi.org/10.1057/978-1-349-95121-5_1577-1