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In the United States, price controls have been enacted several times. The first time price controls were enacted nationally was in 1906 as a part of the Hepburn Act. [14] [page needed] In World War I the War Industries Board was
The economic history of World War I covers the methods used by the First World War (1914–1918), as well as related postwar issues such as war debts and reparations. It also covers the economic mobilization of labour, industry, and agriculture leading to economic failure. It deals with economic warfare such as the blockade of Germany, and with ...
The Emergency Price Control Act of 1942 is a United States statute imposing an economic intervention as restrictive measures to control inflationary spiraling and pricing elasticity of goods and services while providing economic efficiency to support the United States national defense and security. The Act of Congress established the Office of ...
Office of Price Administration. The Office of Price Administration (OPA) was established within the Office for Emergency Management of the United States government by Executive Order 8875 on August 28, 1941. The functions of the OPA were originally to control money (price controls) and rents after the outbreak of World War II.
The value of the German currency continued to fall in the immediate aftermath of the First World war. By late 1919, by which time the German government had signed the Treaty of Versailles, which included an agreement to pay substantial reparations to the Allied powers both in hard cash and in in-kind shipments of goods such as coal and timber, 48 paper marks were required to buy a US dollar. [4]
An Act to provide further for the national security and defense by encouraging the production, conserving the supply, and controlling the distribution of food products and fuel. The Food and Fuel Control Act, Pub. L. 65–41, 40 Stat. 276, enacted August 10, 1917, also called the Lever Act or the Lever Food Act was a World War I era US law that ...
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States President Richard Nixon on 15th August 1971 in response to increasing inflation. [ 1 ][ 2 ]
Wartime Prices and Trade Board. The Wartime Prices and Trade Board is a former Canadian government agency, established on September 3, 1939, by the Mackenzie King government, under the authority of the War Measures Act, in the Department of Labour responsible for price controls and inflation control.