Gardiner Means

Gardiner Means

Gardiner C. Means (1896–1988) was an American economist. He worked at Harvard University where he met Adolf Berle. Together they wrote the seminal work of corporate governance, "The Modern Corporation and Private Property". Means followed the institutionalist tradition of economists. In 1934 he created to the term "administered prices" to refer to prices set by firms in monopoly positions. In "The Corporate Revolution in America" (1962) he wrote,

"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 "collective capitalism."

Means argued that where the economy is fuelled through big firms, it is the interests of management, not the public that govern society.

Writing by Means

* "The Modern Corporation and Private Property" with Adolf Berle (1932)
* "Industrial Prices and their Relative Inflexibility" (1935)
* "Patterns of Resource Use" (1938)
* "The Structure of the American Economy" (1939)
* "Pricing Power and the Public Interest" (1962)
* "The Corporate Revolution in America" (1962)
* "Simultaneous Inflation and Unemployment: Challenge to theory and policy" (1975)
* "The Heterodox Economics of Gardiner C. Means: A collection" 1991.
* "A Monetary Theory of Employment" 1994.

ee also

*History of economic thought



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