“Administered prices” and public policy
DOI:
https://doi.org/10.13133/2037-3643/11932Keywords:
State intervention, administered prices, Gardiner Means, Galbraith, Keynesian, policyAbstract
While state intervention in the economy has traditionally been the main object of study for political economists, the interventions in economic life of other organized groups, such as trade unions, industrial organizations, local and international organizations, have been given less attention. The paper discusses the theoretical definition and treatment of administered prices starting from the analysis by Gardiner Means. The author reviews the main literature on the topic, discussing both the Galbraith and the Keynesian approach.
JEL: E31, E60