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.
Table of Contents
List of Figures and Tables, Preface, Acknowledgments, Introduction: Gardiner C. Means, 1896-1988, PART I: SELECTED WRITINGS OF GARDINER C. MEANS, 1 The Corporate Revolution, 2 Theoretical Chapters from Proposed Dissertation, 3 Industrial Prices and Their Relative Inflexibility, 4 The Major Causes of the Depression, 5 Proposals for Bringing the Technical Phases of National Planning to a National Focus, 6 Incentives to Capital Creation, 7 Possibilities and Limitations of Antitrust Policy, 8 The Economics of Administered Prices: Introductory Explorations for an Atomistic Economy, 9 An Insensitive-price Mechanism of International Trade Adjustment and Its Policy Implications, 10 A General Formulation of Macro-Economic Equilibrium, 11 Letter to Jerry Cohen, 12 Industrial Prices, as Administered by Dr. Means—A Reply, 13 Collective Capitalism and Economic Theory, 14 Thoughts on Concentration, 15 Congiornerates and Concentration, 16 How to Controi Inflation in the United States: An Alternative to “Planned Stagnation”, 17 Simultaneous Inflation and Unemployment: A Challenge to Theory and Policy, 18 Which Was the True Keynesian Theory of Employment?, 19 Corporate Power in the Marketplace, PART II: CAROLINEF. WARE, 20 Academic Resistance to Administered Prices, Chronological Bibliography of the Writings of Gardiner C. Means, Index, About the Editors
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.