Precios inflexibles y la gran depresión

Inflexible prices and the great depression

Este articulo expone la teoria y la tesis de precios administrados de Gardiner Means, analiza sus efectos sobre la gran depresion y presenta las criticas y propuestas de los defensores de la teoria neoclasica. Revisa empiricamente la propuesta de Means y señala sus limitaciones y verdaderos alcances. Por ultimo, muestra que si la tesis Means y las propuestas Keynesianas se hubiesen unido en 1940, la sintesis resultante habria dado lugar a una teoria coherente, con solidos funadamentos empiricos, alternativa a la teoria neoclasica tradicional.

This article presents Gardiner Means' theory and thesis of administeredprices, analyzes their effects on the Great Depression, andpresents the critiques and proposals of the defenders of Neoclassical Theory. It reviews Means' proposal empirically, and indicates its limitations as well as its real significance. Finally, it shows thatif the Means thesis and Keynesian proposals had been joined togetherin 1940, the resulting synthesis would have provided a coherent alternative to traditional Neoclassical Theory with solid empirical foundations.