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| | excerpts from MAKING ECONOMIC SENSE (Site not responding. Last check: 2007-10-24) |
 | | Price controls, that is, the fixing of prices below the market level, have been tried since ancient Rome; in the French Revolution, in its notorious "Law of the Maximum" that was responsible for most of the victims of the guillotine; in the Soviet Union, ruthlessly trying to suppress fl markets. |
 | | Price controls didn't work in World War I, when they began as "selective"; they didn't work in World War II, when they were comprehensive and the Office of Price Administration tried to enforce them with hundreds of thousands of enforcers. |
 | | In 1946, all federal price controls had been lifted except on meat, and as a result, meat was in increasingly short supply. |
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