In the mid-1970s oil crises, rising inflation, balance-of-payments difficulties, erratic economic growth and the end of full employment contributed to a new period of instability in the New Zealand economy.
After the second oil shock, Prime Minister Robert Muldoon introduced a wage and prize freeze in 1982 in an attempt to control inflation.
With the current uncertainty around the coronavirus, should the Government introduce a price freeze on all goods?
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