The Economics of Open Price Systems

The Economics of Open Price Systems

The Economics of Open Price Systems

The Economics of Open Price Systems

Excerpt

From the point of view both of industry and of government, open price plans as a device in the price-making process are at a particularly important stage. While such plans in one form or another have been in existence for more than two decades, interest in them, greatly stimulated by the NRA, is at a higher level than has been the case for a long period. Certain industries are anxious to continue the open price plans developed under the NRA with such improvements as can be made and such modifications as the expiration of the Recovery Act may make necessary. Others are considering the initiation of such plans. An effort to set forth the general issues of public policy which are involved in the organization of open price plans therefore seems appropriate at this time.

The development of open price plans effective in achieving objectives of public interest requires an analysis of the elements in such plans and a consideration of each of these elements in terms of the economic and social issues which it raises. It is with these general questions and, more specifically, with an attempt to point out certain criteria to be used in considering the economic effects of open price plans, that this book is concerned. Emphasis is directed toward the types of considerations that are important in deciding whether or not an open price plan is applicable to an industry and the factors that determine the precise form of the plan that will be most useful socially.

No attempt is made to apply the criteria set forth to specific industry situations. This task would require de-

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