1st Edition

The Heterodox Economics of Gardiner C. Means

    This collection brings together articles written by Gardiner C. Means, a leading institutionalist and post-Keynesian economist. Means studies the modern corporation and its implications for the institution on private property and the economic systems as a whole. The selections illuminate Means' analysis of the corporate revolution, the role of administered pricing and the consequences for macro-economic instability in the American economy. The book includes the controversial theoretical chapters for his proposed Harvard dissertation, his essay on industrial prices and their inflexibility, the causes of depression, administered prices and the risk of inflation, his analysis of stagflation and the control of inflation. An essay by his widow, Caroline F. Ware, examines the resistance of the American economics profession to Means' theory of administered prices.

    This book surveys the complicated history of U.S.-Chinese relations. After two brief chapters providing historical context, the focus shifts to the mid-twentieth century, the wartime alliance, the war's bitter aftermath, and the decades since World War II, including the path from normalisation to China's hosting of the 2008 Summer Olympics. The author traces the ways in which the two countries have managed the blend of common and competitive interests in their economic and strategic relationships; the shifting political base for Sino-American relations within each country; the emergence and dissolution of rival political coalitions supporting and opposing the relationship; the evolution of each society's perceptions of the other; and ongoing differences regarding controversial topics like Taiwan and human rights.
    The author's early years in China, American education, and career as a China expert and an advisor on U.S.-China relations and cultural affairs for over fifty years, have afforded him unique opportunities to observe and participate in the development of this important relationship.


    Frederic S. Lee is a senior lecturer at Leicester Polytechnic, Leicester, England. He has written articles on Post Keynesian price theory, Gardiner C. Means, and the marginalist controversy, which have appeared in The Journal of Post Keynesian Economics, Journal of Economic Issues, and Review of Social Economy, among others. He is also preparing two books, one on Oxford economists and Oxford economics, and the second on the foundations of Post Keynesian price theory., Warren J. Samuels is currently professor of economics at Michigan State University. He earned his M.S. and Ph.D. degrees at the University of Wisconsin. Professor Samuels has written extensively on the history of economic thought, Post Keynesian economics, and institutionaI economics.