Worsening inflation produces a growing call for governments to do something about it. A seemingly attractive policy choice is the introduction of wage and price controls. In view of Canada's current anti-inflation program, this study (the second in a three-part series) is particularly timely. This book features two papers; the first, analyzes Britain's eleven periods of wage and price controls since the war, and the second analyzes President Nixon's Economic Stabilization Program which began with the surprising Freeze of August 1971 and ended in April 1974 with Congress refusing to renew authorization.

This Study by Professor J. Carr of the University of Toronto is the first in a series of six on the topic of wage and price controls that the Fraser Institute published. Each of the studies in the series is designed to deal with a particular aspect of inflation or wage and price controls.