The increasing discussion of the importance of inflexible prices in the. American economy has been somewhat stimulated by previous articles by the pr… - Gardiner Means

We now have single corporate enterprises employing hundreds of thousands of workers, having hundreds of thousands of stockholders, using billions of dollars' worth of the instruments of production, serving millions of customers, and controlled by a single management group. These are great collectives of enterprise, and a system composed of them might well be called "."

Gradually but steadily, great segments of economic activity have been shifted from the market place to administration.

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.