Eamonn Butler

Author and broadcaster on economics and social issues

Forty Centuries of Wage and Price Controls

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For 4,000 years, governments have tried to stem inflation by passing laws against price rises. This amusing book, with Robert L Schuettinger, shows how that policy has never worked. Hammurabi of Babylon set prices in stone, Emperor Diocletian imposed a death penalty, but both failed. Price fixing in revolutionary France and America were disastrous. Even today, governments try the same. But it is their own debasement of the currency makes inflation inevitable.

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