Gardiner C. Means: Price

Gardiner C. Means was American economist. Explore interesting quotes on price.

Gardiner C. Means: 18 quotes 0 likes

“The increasing discussion of the importance of inflexible prices in the. American economy has been somewhat stimulated by previous articles by the present writer. In one of these, material was presented on inflexible administered prices and their importance for monetary policy.”

Gardiner C. Means

Gardiner C. Means, "Notes on inflexible prices." The American Economic Review (1936): 23-35.

“In traditional economic writings dealing with the economy as a whole, it is usually assumed that prices are highly flexible and that economic adjustment is brought about through price changes. We are going to examine inflexible prices.”

Gardiner C. Means

Gardiner C. Means, "Price inflexibility and the requirements of a stabilizing monetary policy." Journal of the American Statistical Association 30.190 (1935): 401-413.

Change

“Earlier writers have recognized that economic activity is only in part trading and that the element of administration enters in, but they have tended to minimize this administrative aspect. The modern corporation has not only increased this aspect by bringing a greater part of economic activity within the administrative limits of single units, has altered the character of the market by making price not an outgrowth of trading but of administration.”

Gardiner C. Means

Source: The Corporate Revolution in America, 1957, p. 18

Parting

“Both… the separation of labor from control and of the owner from control… have made possible the continuing development of the size of the individual enterprise, have reduced the area within which economic processes is organized through the interplay of prices and have increased the area within which production is organized… and the coordination of production on a planned basis.”

Gardiner C. Means

Gardiner C. Means (1933; 6) as cited in: Samuels and Medema (1990; 69)