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Forrest Capie is Professor of Economic History at Cass Business School, City University, London, where he was Head of the Department of Banking and Finance. After receiving a Ph.D. at the London School of Economics, he taught at the universities of Warwick and Leeds. Professor Capie has also been a Visiting Professor at the University of Aix-Marseille and at the London School of Economics and a Visiting Scholar at the International Monetary Fund. He is an Academician of the Academy of Social Sciences. He was editor of the Economic History Review and served on the editorial boards of other journals in the discipline. He is on the Academic Advisory Council of the Institute of Economic Affairs. Professor Capie has authored, co-authored, or edited more than 20 books and has written more than 100 journal articles for journals such as the Economic Journal, Economica, the Journal of Money, Credit, and Banking, the Economic History Review, European Economic History, and British History.

Price controls are a very old means of trying to contain inflation. In GB, they were used in WWII & again in the 1960s. On the first occasion they seemed to work quite well though there were other factors involved -- notably rationing. The second episode was not successful. Rationing seems to have been crucial. 2 Figures, 1 Appendix, 15 References. Adapted from the source document.