Rationing in the United Kingdom The paper shortage often made it more difficult than usual for authors to get work published. In 1944, George Orwell wrote: Whether rationed or not, many consumer goods became difficult to obtain because of the shortage of components. Examples included razor blades, baby bottles, alarm clocks, frying pans and pots. Balloons and sugar for cakes for birthday parties were partially or completely unavailable. Many fathers saved bits of wood to build toys for Christmas presents, and Christmas trees were almost impossible to obtain due to timber rationing. On 8 May 1945, the Second World War ended in Europe, but rationing
Credit rationing mechanism of monetary policy. Drawing on the famous Oxford surveys of businessmen in the 1930s he argued that it was likely that changes in the interest rate did not have a substantial effect on investment decisions. Harrod went on to argue that the main channel through which interest rates curtailed economic activity was through the process of what is now known as credit rationing. He wrote that: "It is essentially the imperfection of the capital market that makes monetary policy a powerful weapon." Credit rationing Credit rationing is the limiting by lenders of the supply of additional credit to borrowers