Word: priced
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Dates: during 1930-1939
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...aristocratic landowner from Pomerania in the backward German east, Bismarck cared little for the doctrines of economic freedom from feudal interference that were popular in free trade England. He made German capitalism an "assisted" capitalism, far more consciously purposeful than the economic systems of the west. Price-fixing and market-sharing cartels were encouraged; protection was granted to both agriculture and industry. The Prussian railroads were bought for the Prussian State, and the Social Democratic trade unions were won over to the paternalistic system partly because of the general pre-War prosperity and partly because Bismarck had introduced sickness, accident...
...cartelized business structure, which was inextricably merged with five big banks, did not know the rules of intramural competition. Then came the first Nazi experiments with a rigidly controlled system, with businessmen retained as managers in their own plants, but with the Government allocating raw materials, dictating wages and prices and limiting and forcing new investment in accordance with Nazi conceptions of national welfare. Capital surpluses went into armaments; the Nazis ceased to build houses. The peasant was bound to his land by laws prohibiting the sale or mortgaging of hereditary homesteads, and farm production was indirectly managed through price...
...interest on German foreign debts and then evolved a system of control boards to balance imports and exports. Out of these equilibrist schemes grew the blocked currency accounts and the barter devices, with the Germans paying foreign exporters in special marks good only for German goods at a price lower than the internal price level. Boycotts and currency difficulties kept lopping off chunks of normal German trade with England, the U. S., and Soviet Russia, but export subsidies to the extent of 30% of the value of all German exports enabled Nazi businessmen to quote speciously attractive prices...
...these expectations are fulfilled the radio manufacturing business may cackle the loudest, but much of the egg money will be collected by the makers of dry cell batteries. Each portable radio requires one volt-and-a-half "A" battery (price: 50? to $1) and two 45-volt "B" batteries (price $1.50 each). "B" batteries in average use have a life of 250 to 300 hours, but the smaller "A" batteries may have to be renewed after 100 hours of use. The average portable's running cost thus is approximately 1½? per hour, about three times that of operating...
Ford, whose philosophy is based on low prices and big volume, took his time shopping for his 50,000 tons. For weeks he dangled the bait until big time steelmen forgot that the price of 1,000,000 tons was at stake, enough to keep U. S. continuous rolling mills busy for more than a month, while 50,000 tons add up to a couple of days' work.* By October 1, steelmen were in a competitive lather...