“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.

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Gardiner C. Means 9
American economist 1896–1988

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