Premium
Resourcing War While Containing Inflation: Debate among A ustralia's Second World War Economists
Author(s) -
Mann Evan
Publication year - 2015
Publication title -
australian economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.493
H-Index - 16
eISSN - 1467-8446
pISSN - 0004-8992
DOI - 10.1111/aehr.12056
Subject(s) - rationing , inflation (cosmology) , economics , consumption (sociology) , world war ii , government (linguistics) , spanish civil war , keynesian economics , government spending , personal consumption expenditures price index , monetary economics , macroeconomics , economic policy , political economy , political science , market economy , consumer confidence index , economic growth , law , sociology , health care , social science , linguistics , physics , philosophy , theoretical physics , welfare
Early in the Second World War, Australian Government economists, including Financial and Economic Committee members, agreed that taxation was central to shifting resources from consumption to war spending and containing inflation. As A ustralia's war effort expanded in 1941–42, all advisers accepted the need for more economic controls. Differences emerged about the desired extent of controls. Some saw controls, including rationing and price stabilisation, as an alternative to higher taxation. In these debates and in policy determination, Keynes' views were influential, as to some extent were those of Kalecki and Balogh. Other influences included the policies of A ustralia's allies.