Knowledge that Transforms

Recent Publications Get access The Quarterly Journal of Economics, Volume 61, Issue 2, February 1947, Pages 339–341, https://doi.org/10.1093/qje/61.2.339 Published: 01 February 1947

Journal Article Recent Publications Get access The Quarterly Journal of Economics, Volume 61, Issue 4, August 1947, Pages 658–660, https://doi.org/10.1093/qje/61.4.658 Published: 01 August 1947

Journal Article Recent Publications Get access The Quarterly Journal of Economics, Volume 61, Issue 3, May 1947, Pages 500–502, https://doi.org/10.1093/qje/61.3.500 Published: 01 May 1947

Recent Publications Get access The Quarterly Journal of Economics, Volume 62, Issue 1, November 1947, Pages 160–163, https://doi.org/10.1093/qje/62.1.160 Published: 01 November 1947

The medieval guilds, 311. — Modern guild regulations in the service trades — the barbers: importance of legislative aid, 312; non-price regulations, 314; price-fixing laws, 316; enforcement of regulations, 323. — Economic aspects of the pricing of barber services: characteristics of the “product” and the market, 325; pricing without restriction on individual action, 328; pricing with concert of action but without benefit of legislation, 330; pricing with minimum price legislation but without extralegal concert of action, 331; pricing with minimum price legislation undergirding extralegal concert of action, 333. — Guild pricing in other trades, 335.

I. Introduction, 232. — II. Supply and allocation of investment funds: deposits, 233; the three main portfolios, 237; the volume of mortgage lending, 245; factors influencing the allocation of funds, 248. — III. Mortgage interest rates, 256. — IV. Comparison with yields on other investments, 261. — V. Summary and conclusions, 264.

I. The trend toward plans: Gompers' attitude, 64; reasons for late development, 65; growth of current plans, 68. — II. Structure and characteristics of the plans: number in operation, 72; neglect of actuarial considerations, 73; methods of financing, 75; types of administration, 77; benefits and coverage, 80. — III. Implications and prospects: their function as stopgaps, 86; influence of union bargaining power and industrial stability, 87; relation to more comprehensive programs, 93.

Scope of the problem, 619. — A. Territorially defined jurisdiction, 619. — B. Jurisdiction defined by classification of work, 621. — C. Traveling employers, 627. — D. Traveling members, 630. — E. Threatened wage standards, 634. — F. Marginal workers, 636. — G. Missionary locals, 638.

The problem: price policy in markets neither completely independent nor completely interrelated, 95. — I. Under monopolistic competition: price interdependence, 97; product interdependence, 98; “advertising” interdependence, 99; limited vs. unlimited discrimination, 100; freedom from price interdependence, 101; ability to enforce price differentials, 103. — II. A classification of cases: importance of substitutability, 106; coefficient expressing the relationship, 107; summary table, 109; relative size of markets, 112; comparison with interdependence between firms, 113. — III. Relation to the theory of international trade: four groups of cases, 113; complete independence, 115; interdependence, 116.

I. The business and political situation in 1839, 605. — II. Early sales of postnotes and foreign exchange in the New York and Boston markets, 607; heavy drafts on the New York balances, 609; gathering difficulties in Europe, 609; suspension of the Bank of the United States, 611; the Rothschilds' assistance, 612. — III. Discussion of the episode by Biddle and others, 614; passing of financial primacy to Wall Street, 616; significance of the episode, 617.