Incomes policy
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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.
Demonstration against wage controls during World War II on Parliament Hill in Ottawa, Ontario
Hyperinflation
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In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to min
Incomes policy
…Muldoon's successor David Lange and Finance Minister Roger Douglas. In 2007, Robert Mugabe's government imposed a price freeze in Zimbabwe because of hyperinflation. That policy led only to shortages. Price Controls by Fiona Maclachlan, The Wolfram Demonstrations Project…
100 quintillion (1020) pengő, the largest denomination bill ever issued, Hungary, 1946. 1 sextillion pengő notes were printed but never issued.
The price of gold in Germany, 1 January 1918 – 30 November 1923. (The vertical scale is logarithmic.)
Germany, 1923: banknotes had lost so much value that they were used as wallpaper.