There are two ways whereby prices can be establishedone by competitive bidding and offering, and the other by political or private regulation. Both methods have their advantages and disadvantages. Many large companies here in all fields of business tried to regulate their selling prices so as to eliminate frequent or large changes, and to promote price-stabilization. But unless the prices so stabilized accord with economic conditions, they are always likely to experience sharp, disagreeable and sometimes very expensive jolts.
Recent development in the gasoline business would have interested John Stewart Millthey illustrate many...
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