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Price in a Mixed Economy: Our Record of Disaster
Our society has
become a pluralistic one – with non-market forces feeding elements of
price rise into the economy; our economic theory, however, has remained
a monistic one that sees price determined by the self-equilibrating
interplay of supply and demand.
William Krehm shows that both within and outside the market our society has undergone
structural changes that contribute irreversibly to increase prices.
Price in a Mixed Economy formulates a grammar of
economic feasibility that sets out the real choices open to society.
Techniques are developed for keeping price mobility to a minimum, and
for tempering social injustices that such unavoidable price movement may