592Z. Barnard Ellinger to Harrod, 20 July, 1939 [a]

With reference to Harrod's paper on "Price and Cost in Entrepreneur Policy", [1] Ellinger disagrees that entrepreneurs talking of fair and just price have in mind considerations of general morality. He thinks instead that they consider fair a price which is profitable to both buyer and seller, high enough to afford a normal divident to shareholders, not too high to reduce consumption, not so low to reduce wages. Finally, he suggests to invite the entrepreneurs to cross examine the OERG on their theory.

  1. a. From Fairways, Wise Lane, Mill Hill, N.W.7. # , 1 page TLS with autograph corrections, in ABP 635.
  1. 1. Oxford Economic Papers 2, 1939, pp. 8-11. See note 1 to letter 917 R for a description of the context.


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