Wartime Price Controls: Economic Restrictions in a State of Emergency
Inflation is a major issue that, although the Federal Reserve has been working on lowering rates, remains troublesome for people’s wallets. Another time in which the US was potentially facing high inflation was during World War II. Some potential policies for addressing this include reductions in government spending, reductions in consumption, tax increases, and controls on prices. Indeed, during the war we had economic controls. Price controls, as well as national conservative opposition to them, manifested during World War II and in the post-war period.
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