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Wage/price controls are likely to recur from time to time as instruments of U.S. economic policy. Although never officially acknowledged, the emphasis on the wage side to such controls–particularly the union wage side--is always apparent. Price controls are generally based on a markup over costs, a system which assumes control of wages. Data from the Phase II period illustrate the need for more gradualism and less ideology. [ABSTRACT FROM AUTHOR]

This article investigates the effectiveness of retail price reductions of grocery products. The author discusses how the awareness of unit-pricing information by households plays an important role in this relationship. The author also examines the concept of price level and price expression in marketing as well as the influence of price level and expression on overall market share. The findings indicate that neither isolated or joint effects of price level and price expression influence the market share of the lowest price brand of the product examined.

The article comments on the claim that the Pigou effect could not do more than stop a deflation involving a decline in output, employment, income and the price level. The author explains that the Pigou effect is the wealth effect on consumption during a decrease in prices. The article cites a contemporary monetary theory that was discussed by Alvin Hansen in an article in which he questioned whether the Pigou effect itself could do more than obstruct a deflation that includes a decrease in output, employment, income, and price level. Several figures are presented to help illustrate the study.

The article discusses direct economic controls that have been enacted in the U.S. since World War II. Commodities and construction, for instance, were regulated by the War Powers Act of 1942, which did not expire until 1947. The Rubber Act of 1948 is discussed, as are various other measures including the Selective Service Act of 1948. Export, price, and wage controls are also examined. Throughout the author notes enabling legislation as well as economic consequences. Among the conclusions he draws about direct controls is that they are likely to be effective only if broad public support exists for them.

This article examines risk factors related to electric utility securities in the U.S. The author notes that these securities do not face the normal risks that are associated with most business enterprises in the U.S. They do not face rapid technological change, the output is highly essential and demand is widely diversified. Inventory and bad debt risk are both negligible. The risks they do face come in the form of government regulation and the threat of government subsidized competition. The author specifically focuses on the impact that government rate setting has on electric utilities.

The article analyzes the partial-equilibrium effects of various deposit-rate ceilings on activity in the market for new Treasury bill issues and presents evidence on the extent of small-saver activity in the weekly auctions. The article makes a hypothesis about a single-equation model for explaining noncompetitive bidding for six-month bills, and presents evidence on the extent of small-saver activity in the weekly auctions. The findings from these tests will go towards the future administration of Regulation Q and other controls.

The article comments on the report of the Council of Economic Advisers for the year 1972 in the United States. The author offers criticism towards the council and its findings. The author reports that members of the council did not oppose wage and price controls, yet no member made any proposals. Members of the council claim that controls will and have reduced expectations of inflation. The author disagrees with the council's assertion that inflation is the result of powerful economic groups taking advantage of the market place, and that it is the result of an expansion in the money supply relative to demand.

The article discusses how welfare cost effects the banking structure in Great Britain. It is the aim of the article to demonstrate that Great Britain's banking structure is not socially optimal. The article also attempts to quantify the resulting social loss created by the banking structure. An analysis of the welfare cost is presents, as well as an attempt to measure it. The article cites a 1966 report from Great Britain's Prices and Income Board, which recommended that certain restrictive practices in banking be abolished and a competitive banking system be established.

The article presents a model for U.S. aggregate demand. The author's goals are several-fold. He seeks to elucidate money stock, real consumption, and eighteen other endogenous variables in terms of several fiscal- and monetary-policy tools. He also analyzes the effects of taxation, borrowing, printing money, and government purchases, given certain assumptions about price levels and real output. In addition, the relationship among price levels, real output, money and high-powered money is explored.

The article reports on price variation accounting and the paper "Price-Level Changes and Useless Information" by Russell Mathews. The definition of income can be divided by the macroeconomic and microeconomic points of view. In macroeconomics the concept of income can be defined as restricted to the increment in wealth resulting from productive activities which are represented in actual transactions. However, in microeconomics this is not the case. A firm, borrowing money and repaying it during a period where purchasing power is lower than when it borrowed, is better off.

The article discusses accounting for price changes. Financial statements should list current value data due to the fact that accounting information is used in economic evaluation and decision making. Also, the terms of value for items on income statements should use the current prices for the period stated. The concept of income includes the increment in wealth resulting from the productive activities of actual transactions with revenue and cost flows using current prices. References to a change in balance sheet measures through the generalized purchasing power between two periods of time are not used in deriving income.

This article discusses the price level problems of capital goods. The author has written the article in response to comments made by R. L. Mathews' article, "Price Level Changes and Useless Information," published in a previous issue. A simplified, four-item balance sheet featuring a transactionless interval and a change only in the general level of prices is presented. "Accounting Research Study No. 6" is discussed. The assumptions of Edgar O. Edwards and Philip W. Bell, who selected opportunity cost and current cost as the base for non-monetary asset accounting, are also discussed.

The author explores and evaluates both the functional and dysfunctional consequences of a system of distribution which accounts for approximately 25% of total consumer goods' expenditures in the United States. [ABSTRACT FROM AUTHOR]

Does unit-price information alter purchase decisions of consumers in supermarkets? Will the change to a unit-pricing system create burdensome costs for retailers? The authors report the results of unit-pricing experiments and assess the benefits of unit pricing. [ABSTRACT FROM AUTHOR]

Laws to limit the rate of interest or service charges on consumer credit are presented as consumer protection devices on the grounds that credit grantors have an advantage over their customers. Opponents of such laws argue that they Impair the free market process, that consumers will have to pay credit costs indirectly (such as through increased prices), and that low-income consumers may be forced out of regular credit channels and into the arms of illegal loan sharks. This article summarizes a study to determine the impact of a credit rate limitation law on businesses and consumers. [ABSTRACT FROM AUTHOR]

The article presents information on legal developments in marketing relative to the regulation of price competition. The author presents the case of Checker Motors Corp. v. Chrysler Corp., Chrysler Motors Corp. and Checker Taxi Co. Inc., which involves a sales promotion put on by an automobile manufacturer that grants rebates to retail companies who purchase their taxicabs. Also discussed is the case of Dean Milk Co. v. United States Federal Trade Commission, which involves issues including price discrimination surrounding dairy products.

The article presents information on legal developments in marketing relative to the regulation of price competition. The author cites the case of Universal-Rundle Corp. v. United States Federal Trade Commission (F.T.C.), in which Universal-Rundle petitioned to have an F.T.C. order concerning price discrimination set aside. Also noted is an F.T.C. advisory opinion concerning an advertising promotional plan proposed by a book publisher. The author cites an amendment to the Kentucky Fair Trade Act concerning resale price maintenance.

The article presents information on legal developments in marketing relative to the regulation of monopolistic methods. The author cites the case of General Foods Corp. v. United States Federal Trade Commission, in which General Foods challenged the commission's finding that one of the company's acquisitions promoted unfair competition. Also noted is the case of United States v. Johns-Manville Corp., in which the U.S. issued an injunction against Johns-Manville for allegedly engaging in price-fixing activities.

Do present interpretations of the Robinson-Patman Act cause sellers to discriminate against large customers? This article deals with a new computer-based analysis procedure for improvement in consistency and reduction in discrimination in pricing practices. The authors show the steps needed to develop computer-based, marketing-oriented cost accounting systems and the application of this new pricing practice to an actual business situation. [ABSTRACT FROM AUTHOR]

The article presents legal case studies involving marketing law, price discrimination, and exclusive arrangements between buyers and sellers. The cases of Empire Rayon Yarn Co. Inc. v. American Viscose Corp., Fred Malina, Edythe N. Charnas and Fred H. Diamond, co-partners d.b.a. Malina Co., Butner Bros. Corp.; Olin Mathieson Chemical Corp. v. Ontario Store of Price Hill Ohio Inc.; and Rubbermaid Inc. v. Claber Distributing Co. of Cleveland Inc., a.k.a. Uncle Bill's are presented.

The article presents legal developments in marketing related to the regulation of competition. Regarding price discrimination, the case "United Biscuit Company of America v. Federal Trade Commission," is discussed, in which the United States Federal Trade Commission charged that the United Biscuit Company discriminated in price between chain grocers and independent grocers. Regarding resale price maintenance, the case "Winchester-Western Division, Olin Mathieson Chemical Corporation v. The Ontario Store of Toledo, Ohio, Inc.," is discussed, in which Ohio's 1959 Fair Trade Act was found unconstitutional. Regarding price control, the Nebraska Cigarette Below Cost Law is discussed.

The article presents legal developments in marketing relating to the regulation of competition. Regarding price discrimination, the case Packer's Supermarkets, Inc. v. Berry Packaging Corp. and Nathan Levine is discussed, involving allegations of price discrimination. Regarding resale price maintenance, the case National Distillers and Chemical Corporation v. R. H. Macy & Co., Inc. is discussed, involving a temporary injunction against a price cutting retailer of liquor. Regarding price control, the amendments to the Utah Unfair Practices Act and Maine Unfair Sales Act are discussed.

The article presents legal case studies involving marketing law, price discrimination, exclusive arrangements between buyers and sellers and alleged violations of the U.S. Robinson-Patman Act. The article presents the case of Boysen Inc. v. H.P. Hood & Sons Inc., Sealtest Inc., The Great Atlantic & Pacific Tea Company Inc, and Pioneer Diary Inc., the case of the United States v. National Dairy Products Corp. and Raymond J. Wise, and the case of Forster Manufacturing Co. Inc. et al. v. the U.S. Federal Trade Commission.

The cost defense under the Robinson-Patman Act once seemed to be a fairly routine process. Since 1962, however, serious problems have been posed by the Supreme Court and the Federal Trade Commission. This article examines the cost defenses in the light of these decisions. [ABSTRACT FROM AUTHOR]

The article presents legal case studies involving marketing law, price discrimination, exclusive arrangements between buyers and sellers and alleged violations of the Robinson-Patman Act. The case of Shore Gas & Oil Company Inc. v. Humble Oil & Refining Company regarding what a seller attempting to recover damages from a competing seller must prove to recover treble damages. The cases of Shreveport Macaroni Mfg. Co. Inc. v. U.S. Federal Trade Commission and Western Fruit Growlers Sales Co. v. U.S. Federal Trade Commission, involve companies that disagree with allegations against them that they are in violation of the Robinson-Patman Act.

Economic price theory has much to contribute to organized marketing thought. Likewise the reality of microeconomic price theory can be improved by its incorporation of marketing concepts. The author reviews several price theories, which if properly integrated, could aid marketing theory as applied to the important area of marketing channels. [ABSTRACT FROM AUTHOR]

The article presents information on legal developments in marketing relative to the regulation of price competition. In reference to price discrimination, the case of Exquisite Form Brassiere Inc. v. Federal Trade Commission is presented. The legal system's findings involving Section 2 of the Robinson-Patman Act are reported. A second case involving the alleged conflict of state and federal law, State of Wisconsin v. Texaco Inc., is presented. A third case involving the Swanee Paper Corporation is presented and also centers on a contentious element of the Robinson-Patman Act.

The article presents information on legal developments in marketing relative to the regulation of price competition. The details of an April 1962 lawsuit Columbia Broadcasting System Inc. v. Amana Refrigeration Inc. are presented. Amana charges that Columbia Broadcasting caused unfair financial damage by granting greater quantity discounts on prime television time to Amana's competitors. The difference between a 'commodity' and a 'privilege' is cited as a primary reason for Amana's losing the case. A U.S. court in the lawsuit Robert P. Kidd v. Esso Standard Oil Co. involves similar price discrimination allegations.

This article represents the "positive view" of price discrimination--offenses and defenses against the Robinson-Patman Act. It provides guideposts for the businessman who wants to implement a marketing program in accordance with sound business judgment, rather than by default out of vague apprehension of a vague law. [ABSTRACT FROM AUTHOR]

The article presents legal developments in marketing with particular focus on the regulation of price competition. One of the developments describes the case of H.J. Heinz Company v. Beech-Nut Life Savers Inc., which shows the difficulties presented by the Robinson-Patman Act in cases involving price discrimination. Another development discusses the U.S. Supreme Court case of United States v. Parke, Davis & Co., which limits the allowable methods used by manufacturers in coercing retailers to maintain the resale prices in states without fair trade laws and state having fair trade laws without non-signer provisions.

The Robinson-Patman Act is the most basic statute affecting competitive pricing. Yet too few businessmen are aware of significant changes that have occurred in the interpretation and enforcement of the Act. Some pricing actions that were held illegal under earlier interpretation are today considered "a necessary part of competition." The author also interprets other changed aspects of the Act. [ABSTRACT FROM AUTHOR]

The article presents U.S. legal developments in marketing relative to the regulation of monopolistic methods. In reference to market control the United States v. Radio Corporation of America case and the American Crystal Sugar Company v. The Cuban-American Sugar Company case is cited among others. In reference to collusive practices the Pittsburgh Plate Glass Co., et al. v. United States case is cited among others.

The article presents information on legal developments in marketing relative to the regulation of price competition. Two cases involving resale price maintenance laws are presented; General Electric Co. v. Wahle, and Bargain Barn Inc. v. Arvin Industries Inc. both involve fair trade measures which were determined to violate state constitutions.

The article discusses retail price policy and administrative price control, focusing on governmental policies. The author mentions various price control program developments that have shaped the U.S. economy, including the General Ceiling Price Regulation in 1951, Ceiling Price Regulation (CPR) 7, and CPR's 14, 15, and 16. He concludes that CPR's 7, 14, 15, and 16 were well conceived and well adapted to the market. He also says that while reliance on margin controls may appear prone to pyramiding of price adjustments, it is possible to realize savings. Finally he feels inadequacies in the regulations were due to insufficient time being utilized in planning and an attempt to use regulations in situations where they were not appropriate.

The article focuses on mandatory resale price maintenance of distilled spirits in California. In November of 1952, ten states regulated mandatory resale prices for distilled spirits. The author presents a case study of how the practice affects the distilled spirits industry in California. The California Alcoholic Beverage Control Act requires a distilled spirit manufacturer, brand owner, or their representative to enter into a contract with a retailer to maintain a minimum price. The author believes that while the practice has good intentions, it restricts competition. This leads to a higher average price level than if cutthroat competition were allowed. He believes that the practice does not reduce consumption, but does distort resource allocation.

The article presents a number of court cases and legal developments pertaining to the regulation of price competition. The author notes the case of Grayson-Robinson Stores Inc. v. Oneida Ltd., in which the issue of resale price maintenance is discussed. Also noted is the case of Masters Inc. v. Sunbeam Corp.

The article reports on legal developments related to the regulation of price competition in the field of marketing in the U.S. The author provides information about the court cases American Can Company v. Bruce's Juices, Incorporated; Schwegmann Brothers et al. v. Calvert Distillers Corporation; U.S. Federal Trade Commission v. Standard Brands, Incorporated.

The article reports on the pricing system for agricultural markets established in the Soviet Union after World War II and it's implications for the peasant economy. The pricing system, designed to reduce risk related to price fluctuations associated with agricultural commodities, is influenced by the government. The author focuses on the logistical factors that influence peasants who take part in the farmers' markets, such as market entry fees and costs related to the transportation of goods. The relationship between open-market and state-controlled prices is examined. A rationing plan instituted by the government during World War II, which halted the production of consumer goods, is also discussed.

The article focuses on the economics of mandatory fair trade in the liquor industry in New York City. A discussion is presented about fair trade legislation passed in the state of New York and its effects on the state's liquor industry. A history of mandatory fair trade law in New York is presented, along with analysis of the effects of trade laws on prices, price uniformity, and dealer gross margins. Details related to the enforcement of fair trade legislation by the state liquor authority are presented.

The article focuses on trends in the enforcement of the antimonopoly laws. The author points out changes in the enforcement of monopoly laws after World War II. While most antimonopoly cases prior to the war involved the abuse of patent rights or participation in international cartels, postwar cases tend to involve price fixing and antitrust laws. A discussion is presented about the growing size of corporations and the effect of this growth on the investigation of questionable business practices. The article also discusses price fixing, unfair competitive practices, and monopoly power.

The article presents information about problems related to product-line pricing. A discussion is presented about the difficulties of finding a proper relationship among prices of members of a product group in order to effectively price various commercial products. Several pricing systems are presented, and the positive and negative elements of each are discussed. A discussion is presented about the various factors that are weighed when pricing products, including size, cost of production and distribution, and profit margin.

The article discusses legal developments regarding fair trade regulation in the state of Florida. A discussion is presented about fair trade legislature in Florida and the court battle over price freezing practices and the constitutionality of the Florida Fair Trade Act. Details related to the Act's purpose and regulatory power are presented. The validity of fair trade legislation in other states is discussed. The article also reports on the power of Federal Trade Commission in regards to fair trade, trademarks, and monopoly regulation.

The article discusses some principles of department store pricing. A discussion is presented about variables affecting merchandise prices, such as competitive prices, non-price competition, and fair trade prices. Information is presented about price lining, in which three prices are used for different classes of similar merchandise. The author points out the advantages and disadvantages of price lining and the need for flexible prices. Details related to the marketing and pricing of new products are presented.

The article presents information about the pricing of retail merchandise. The author looks at various types of retail merchandise establishments and describes the different types of consumers that traditionally frequent those establishments. A discussion is presented about pricing mechanisms used by retailers and the ways they differ from manufacturers' prices. Details are presented about pricing considerations such as competitors' prices, sales volume, mark-on percentage, and derived demand for specific articles.

The article presents the first part of a two part article analyzing the price policy of the Challenge Cream & Butter Association. The Challenge Cream & Butter Association is a distributive cooperative organization that is based out of Los Angeles, California. The Association purchases products from twenty-seven member cooperative associations located in western states. The author believes the price policy of the Association helps it in its profit policy. The Association focuses on selling because of its quality and flavor, as opposed to its price. Some of the instruments used in the Association's price policy are advertising, product differentiation, use of sales personnel, control of supply, horizontal expansion, services to accompany sales, and resale price maintenance.

The article discusses marketing in Great Britain in the late 1940's. The author begins by explaining some of the differences between the market structure in the United States and Great Britain. Much of the power industries have been taken over by the government and those that have not are indirectly controlled by it, through allocation of resources and consumer rationing. The diminished infrastructure in Great Britain is also a limiting factor in export trade, where the United States was untouched after the war. Three major features are the heart of British marketing, the right to buy, inflationary tendencies, and discrimination by buyers. An increase in output of factories has resulted in a relaxing of rationing by the government and export sales have become more of a focus.

The total volume of grain future trading is now but a fraction of what it has been. The principal cause of the low volume of trading has been the establishment by the Federal Government of a mechanism which removes much of the necessity for private interests to carry the risk of grain prices. At present this mechanism consists of price floors (parity prices) and until recently price ceilings were in effect. It does not seem likely that the policy of the Federal Government to control the price of grain will be permanently abandoned. The Chicago Board of Trade has been and is the dominant grain futures market even with a reduced total volume of trading. Had it not been for the attractiveness of rye contracts during the war, the total volume of trading would have declined to a greater extent than it did. [ABSTRACT FROM AUTHOR]

The article addresses federal legislation which serves to dissuade price discrimination. It is the third in a series of article on price discrimination. The first two covered the economic and marketing factors related to price discrimination. A description of early common laws which governed a merchant's obligation to serve the public interest at reasonable compensation is provided. Modern common law is different in that it requires companies to sell without price discrimination to the same class of buyer. The goal of this type of legislation is to provide equality of opportunity and prevent unfair advantages for some businesses.

The article presents a discussion of the terms of sale and its role within the marketplace. Examples of the terms of sale include pricing, packaging, return of goods terms, quantity schedules, taxes, delivery and terms of payment. According to the author, the Office of Price Administration's price regulations played a role in stiffening the terms of sale from the sellers' standpoint. The changing relations between buyers and sellers during the current period is analyzed. Sellers are noted for becoming more demanding and less accomodating to buyers' preferences. The impact of World War II on U.S. production levels, consumption and demand is described.

The article discusses price discrimination. The author offers a definition of price discrimination, noting that it involves distinguishing consumers who are willing and able from those who are unwilling or unable to pay high prices. Also noted are a number of difficulties in determining where price discrimination exists, including objective, subjective and the cost-price method of detecting discrimination. The author disagrees with the claim that monopoly control is needed for price discrimination to take place.