We have a powerful weapon to fight inflation (theguardian.com)

> [after ww2, economists] argued that as long as bottlenecks made it impossible for supply to meet demand, price controls for important goods should be continued to prevent prices from shooting up. The tsar of wartime price controls, John Kenneth Galbraith, joined these calls. He explained “the role of price controls” would be “strategic”. “No more than the economist ever supposed will it stop inflation,” he added. “But it both establishes the base and gains the time for the measures that do.”

Interesting stuff. I wonder how often the short livedness of price controls works out.