Word: market
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Dates: during 1970-1979
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Chalmers also said that growth of the solar contribution to electricity generation beyond the one per cent figure cited by the Ehrenreich study might be possible if the government provided a guaranteed market at a guaranteed price to the solar industry...
...competitive industries in his State of the Union address, he shrewdly avoided mentioning his efforts to raise prices in one of the most concentrated, oligopolistic, profitable industries in the economy--big oil. Not only do the top eight petroleum refining companies possess 14.5 per cent of the the market, they also control the other stages of the production process. And as anyone who has taken Ec 10 knows, the oil industry does not fit the classical model of perfect competition. The vertically integraged oligopoly does not set its prices at MC equals MR, but at the highest prices consumers will...
...live in a nation and we believe in the free enterprise system, where market forces determine prices. But the oil and gas industry is not part of that system because prices are not free. They're heavily influenced by decisions made outside our country by the OPEC nations and they are heavily influenced by some control over the rate of production by American companies...
...demand for goods and labor. Though the latter may tend to depress prices, the former, given the exorbitant interest rates, will in all probability overwhelm the deflationary advantages. And in the case of high interest rates, it is once again the less wealthy who are priced out of the market, or to put it in more human terms, kept from owning homes and buying cars...
...anti-trust laws, even if they were rigorously applied, the American economy would still be dominated by oligopolies. And as the chairman of Carter's own Council of Economic Advisers, Charles Schultze, noted in his 1959 study Recent Inflation in the United States, when the structure of the market is such that prices rise in response to greater demand, but do not fall when demand declines, the result will be an increase in average costs, hence a rising inflation rate. As consolidation of the market has quickened in the last several years (there were twice as many mergers and acquisitions...