The Heterodox Economics of Gardiner C. Means

Description

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. Dedication Contents List of Figures and Tables Preface Acknowledgments Introduction: Gardiner C. Means, 1896–1988 • Frederic S. Lee and Warren J. Samuels 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 Conglomerates and Concentration 16 How to Control 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: CAROLINE F. WARE 20 Academic Resistance to Administered Prices • Caroline F. War Chronological Bibliography of the Writings of Gardiner C. Means Index About the Editors