60 relations: Administered prices, Alauddin Khalji, Albert Rees, Black market, California, Capital control, Central bank, David R. Henderson, Delhi Sultanate, Diocletian, Economic Stabilization Act of 1970, Edict on Maximum Prices, Electricity, Federal Energy Regulatory Commission, French Revolution, Gas Cap Law, Gasoline, General maximum, George P. Shultz, Granger Laws, Harold Wilson, Hawaii, Hepburn Act, Incomes policy, Inflation, Lactantius, Liberty Fund, Market reforms of Alauddin Khalji, Milton Friedman, Minimum wage, Mixed economy, Monetary inflation, Money creation, Monopsony, National Board for Prices and Incomes, Nixon shock, Nobel Memorial Prize in Economic Sciences, Paul Volcker, PBS, PBS NewsHour, Planned economy, Price ceiling, Price floor, Price gouging, Prices and Incomes Act 1966, Qutbuddin Mubarak Shah, Rent regulation, Richard Nixon, Rolling blackout, San Francisco Chronicle, ..., Shortages in Venezuela, Stagflation, The American Economic Review, Thomas Sowell, United States Food Administration, United States Secretary of the Treasury, Wage, Watt, World War I, 1973 world oil market chronology. Expand index (10 more) » « Shrink index
Administered prices are prices of goods set by the internal pricing structures of firms that take into account cost rather than through the market forces of supply and demand and predicted by classical economics.
ʿAlāʾ ud-Dīn Khaljī was the second and the most powerful ruler of the Khalji dynasty that ruled the Delhi Sultanate in the Indian subcontinent.
Albert E. Rees (August 21, 1921 – September 5, 1992) was an American economist and noted author.
A black market, underground economy, or shadow economy is a clandestine market or transaction that has some aspect of illegality or is characterized by some form of noncompliant behavior with an institutional set of rules.
California is a state in the Pacific Region of the United States.
Capital controls are residency-based measures such as transaction taxes, other limits, or outright prohibitions that a nation's government can use to regulate flows from capital markets into and out of the country's capital account.
A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.
David R. Henderson (born November 21, 1950) is a Canadian-born American economist and author who moved to the United States in 1972 and became a U.S. citizen in 1986, serving on President Ronald Reagan’s Council of Economic Advisers from 1982 to 1984.
The Delhi Sultanate (Persian:دهلی سلطان, Urdu) was a Muslim sultanate based mostly in Delhi that stretched over large parts of the Indian subcontinent for 320 years (1206–1526).
Diocletian (Gaius Aurelius Valerius Diocletianus Augustus), born Diocles (22 December 244–3 December 311), was a Roman emperor from 284 to 305.
The Economic Stabilization Act of 1970 (Title II of, formerly codified at) was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers.
The Edict on Maximum Prices (Latin: Edictum de Pretiis Rerum Venalium, "Edict Concerning the Sale Price of Goods"; also known as the Edict on Prices or the Edict of Diocletian) was issued in 301 by Roman Emperor Diocletian.
Electricity is the set of physical phenomena associated with the presence and motion of electric charge.
The Federal Energy Regulatory Commission (FERC) is the United States federal agency that regulates the transmission and wholesale sale of electricity and natural gas in interstate commerce and regulates the transportation of oil by pipeline in interstate commerce.
The French Revolution (Révolution française) was a period of far-reaching social and political upheaval in France and its colonies that lasted from 1789 until 1799.
The Hawaii Gas Cap Law is a state law setting a price ceiling on wholesale gasoline prices, the maximum amount that may be charged for producing gasoline and delivering it to a service station.
Gasoline (American English), or petrol (British English), is a transparent, petroleum-derived liquid that is used primarily as a fuel in spark-ignited internal combustion engines.
The General Maximum, or Law of the Maximum, was a law during the French Revolution, as an extension of the Law of Suspects on 29 September 1793.
George Pratt Shultz (born December 13, 1920) is an American economist, elder statesman, and businessman.
The Granger Laws were a series of laws passed in several midwestern states of the United States, namely Minnesota, Iowa, Wisconsin, and Illinois, in the late 1860s and early 1870s.
James Harold Wilson, Baron Wilson of Rievaulx, (11 March 1916 – 24 May 1995) was a British Labour politician who served as Prime Minister of the United Kingdom from 1964 to 1970 and from 1974 to 1976.
Hawaii (Hawaii) is the 50th and most recent state to have joined the United States, having received statehood on August 21, 1959.
The Hepburn Act is a 1906 United States federal law that gave the Interstate Commerce Commission (ICC) the power to set maximum railroad rates and extend its jurisdiction.
Incomes policies in economics are economy-wide wage and price controls, most commonly instituted as a response to inflation, and usually seeking to establish wages and prices below free market level.
In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time.
Lucius Caecilius Firmianus Lactantius (c. 250 – c. 325) was an early Christian author who became an advisor to the first Christian Roman emperor, Constantine I, guiding his religious policy as it developed, and a tutor to his son Crispus.
Liberty Fund, Inc. is a nonprofit foundation headquartered in Indianapolis, Indiana which promulgates the libertarian views of its founder, Pierre F. Goodrich through publishing, conferences, and educational resources.
The Delhi Sultanate ruler Alauddin Khalji (r. 1296-1316) instituted price controls and related reforms in his empire.
Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.
A minimum wage is the lowest remuneration that employers can legally pay their workers.
A mixed economy is variously defined as an economic system blending elements of market economies with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise.
Monetary inflation is a sustained increase in the money supply of a country (or currency area).
Money creation is the process by which the money supply of a country, or of an economic or monetary region,Such as the Eurozone or ECCAS is increased.
In economics, a monopsony (from Ancient Greek μόνος (mónos) "single" + ὀψωνία (opsōnía) "purchase") is a market structure in which only one buyer interacts with many would-be sellers of a particular product.
The National Board for Prices and Incomes was created by the government of Harold Wilson in 1965 in an attempt to solve the problem of inflation in the British economy by managing wages and prices.
The Nixon shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, the most significant of which was the unilateral cancellation of the direct international convertibility of the United States dollar to gold.
The Nobel Memorial Prize in Economic Sciences (officially Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne, or the Swedish National Bank's Prize in Economic Sciences in Memory of Alfred Nobel), commonly referred to as the Nobel Prize in Economics, is an award for outstanding contributions to the field of economics, and generally regarded as the most prestigious award for that field.
Paul Adolph Volcker Jr. (born September 5, 1927) is an American economist.
The Public Broadcasting Service (PBS) is an American public broadcaster and television program distributor.
The PBS NewsHour is an American daily evening television news program that is broadcast on the Public Broadcasting Service (PBS), airing seven nights a week on more than 350 of the public broadcaster's member stations.
A planned economy is a type of economic system where investment and the allocation of capital goods take place according to economy-wide economic and production plans.
A price ceiling is a government-imposed price control, or limit, on how high a price is charged for a product.
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product.
Price gouging is a pejorative term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent.
The Prices and Incomes Act 1966 c. 33 was a United Kingdom Act of Parliament, affecting UK labour law, regarding wage levels and price policies.
Qutb-ud-din Mubarak Shah Khalji was a ruler of the Delhi Sultanate of present-day India.
Rent regulation is a system of laws, administered by a court or a public authority, which aim to ensure the quality and affordability of housing and tenancies on the rental market for land.
Richard Milhous Nixon (January 9, 1913 – April 22, 1994) was an American politician who served as the 37th President of the United States, serving from 1969 until 1974, when he resigned from office, the only U.S. president to do so.
A rolling blackout, also referred to as rotational load shedding or feeder rotation, is an intentionally engineered electrical power shutdown where electricity delivery is stopped for non-overlapping periods of time over different parts of the distribution region.
The San Francisco Chronicle is a newspaper serving primarily the San Francisco Bay Area of the U.S. state of California.
Shortages in Venezuela have been prevalent following the enactment of price controls and other policies during the economic policy of the Hugo Chávez government.
In economics, stagflation, a portmanteau of stagnation and inflation, is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high.
The American Economic Review is a peer-reviewed academic journal of economics.
Thomas Sowell (born June 30, 1930) is an American economist and social theorist who is currently Senior Fellow at the Hoover Institution, Stanford University.
During the United States participation in World War I the U. S. Food Administration was the responsible agency for the administration of the U.S. army overseas and allies' food reserves.
The Secretary of the Treasury is the head of the U.S. Department of the Treasury which is concerned with financial and monetary matters, and, until 2003, also included several federal law enforcement agencies.
A wage is monetary compensation (or remuneration, personnel expenses, labor) paid by an employer to an employee in exchange for work done.
The watt (symbol: W) is a unit of power.
World War I (often abbreviated as WWI or WW1), also known as the First World War, the Great War, or the War to End All Wars, was a global war originating in Europe that lasted from 28 July 1914 to 11 November 1918.
*January 11: U.S. Phase III price controls begin.