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Price-Fixing as seen by a Price-Fixer

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  • F. W. Taussig

Abstract

The three agencies that regulated prices, 205. — Differences in their methods, 206. — The Price-Fixing Committee, 209. — Commodities regulated by the committee, 209. — Ground for their selection; heavy government needs, 210. — Prices were fixed as maxima only, 214. — Gradual elaboration and extension, 214. — Cost of production as the basis, 216. — Marginal, or "bulk-line," cost, and charts illustrating it, 218. — This basis of price-fixing justified by economic theory, 222. — Distinction between differences in cost based on physical causes and those based on human qualities, 222. — The real ground for stress on marginal cost was necessity of maintaining output, 228. — Special phases of some articles, lumber, cement, iron and steel, 229. — Proposals for an average or pooled price, 232. — Objections to this method, 233. — Conclusion, 238.

Suggested Citation

  • F. W. Taussig, 1919. "Price-Fixing as seen by a Price-Fixer," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 33(2), pages 205-241.
    • Handle: RePEc:oup:qjecon:v:33:y:1919:i:2:p:205-241.
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    File URL: http://hdl.handle.net/10.2307/1884733
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    Cited by:

    1. Rogers, George B., 1972. "Price Control Programs, 1917-71: Origins, Techniques, Effects on Food Prices," Agricultural Economic Reports 307468, United States Department of Agriculture, Economic Research Service.
    2. Gordon, Robert J, 1982. "Price Inertia and Policy Ineffectiveness in the United States, 1890-1980," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1087-1117, December.
    3. Jacques Sapir, 2022. "Is Economic Planning Our Future?," Studies on Russian Economic Development, Springer, vol. 33(6), pages 583-597, December.
    4. Richard Fleischman & Thomas Tyson, 2000. "Parallels between US and UK cost accountancy in the World War I era," Accounting History Review, Taylor & Francis Journals, vol. 10(2), pages 191-212.
    5. Hugh Rockoff, 2004. "Until it's Over, Over There: The U.S. Economy in World War I," NBER Working Papers 10580, National Bureau of Economic Research, Inc.

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