"In 2005 Luigi Pasinetti was asked by his friend and colleague Pier Paolo Varri1 how he would like his 75th birthday to be celebrated. Pasinetti immediately replied: "let us discuss my new book!". The book was of course Keynes and the Cambridge Keynesians, which was almost finished at that time....

This paper discusses the American debate over price controls and economic stabilization after World War II, when the transition from a war economy to a peace economy was characterized by bottlenecks in the productive system and shortages of food and other basic consumer goods, directly affecting...