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Price Maintenance--Discussion
At the outset I must question the implication that price maintenance would mean a maintenance of the existing system of marketing. The plan of legally-maintained prices, or of legally forbidden price cutting, is an adjunct to the relatively recent increase in advertised "identified" goods,...
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Published in: | The American economic review 1916-03, Vol.6 (1), p.185-209 |
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Main Authors: | , , , |
Format: | Article |
Language: | English |
Subjects: | |
Online Access: | Get full text |
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Summary: | At the outset I must question the implication that price maintenance would mean a maintenance of the existing system of marketing. The plan of legally-maintained prices, or of legally forbidden price cutting, is an adjunct to the relatively recent increase in advertised "identified" goods, and it is seeking to gain acceptance under the guise of the new tendency to recognize various restraints of trade as reasonable. Surely, to insure a given spread of profits to the same old classes of business men is not to insure that these men will conduct their business in the same old way. Making due allowance for exceptions, the existing system is characterized by the prevalence of responsible retail entrepreneurs, and by the general acceptance of the competitive ideal. Price maintenance would, where applied, take away from marketing all but the form of entrepreneurial activity, and it would remove an essential element in competition. |
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ISSN: | 0002-8282 1944-7981 |