Inflationary Impact of Pricing by Concentrated Industries
69K INFLATIONARY IMPACT OF PRICING BY CONCENTRATED INDUSTRIES HEARINGS BEFORE THE JOINT ECONOMIC COMMITTEE CONGRESS OF THE UNITED STATES .NIYE'rY-THIED CONGRESS SECOND SESSION (Pursuant to S. Con. Res. 93) SEPTEMBER 4 AND 9, AND OCTOBER 7, 1974 Printed for the use of the Joint Economic Committee 0* U.S. GOVERNMENT PRINTING OFFICE 47-103 WASHINGTON : 1974 For sale by the Superintendent of Documents, U.S. Government Printing Office Washington, D.C. 20402 -Price $2.35 JOINT ECONOMIC COMMITTEE (Created pursuant to sec. 5(a) of Public Law 304, 79th Cong.) WRIGHT PATMAN, Texas, Chairman WILLIAM PROXMIRE, Wisconsin, Vice Chairman HOUSE OF REPRESENTATIVES SENATE RICHARD BOLLING, Missouri JOHN SPARKMAN, Alabama HENRY S. REUSS, Wisconsin J. W. FULBRIGHT, Arkansas MARTHA W. GRIFFITHS, Michigan ABRAHAM RIBICOFF, Connecticut WILLIAM S. MOORHEAD, Pennsylvania HUBERT H. HUMPHREY, Minnesota HUGH L. CAREY, New York LLOYD M. BENTSEN, JR., Texas WILLIAM B. WIDNALL, New Jersey JACOB K. JAVITS, New York BARBER B. CONABLE, Ji., New York CHARLES H. PERCY, Illinois CLARENCE J. BROWN, Ohio JAMES B. PEARSON, Kansas BEN B. BLACKBURN, Georgia RICHARD S. SCHWEIKER, Pennsylvania JOHN R. STARK, Executive Director JOHN R. KARLIK, Senior Economist LOUGHLIN F. MCHUGH, Senior Economist COURTENAY M. SLATER, Senior Economist RICHARD F. KAUFMAN, General Counsel ECONOMISTS WILLIAM A. Cox Lucy A. FALCONE ROBERT D. HAMRIN SARAH JACKSON JERRY J. JASINOWSKI L. DOUGLAS Lim CARL V. SEARS GEORGE R. TYLER LARRY YUSPEH MINORITY LESLIE J. BANDUR GEORG3 D. KRUMBH[AAR, Jr. (Counsel) WALTER B. LAESSIO (Counsel) (W) CONTENTS WITNESSES AND STATEMENTS WEDNESDAY, SEPTEMBER 4, 1974 Proxmire, Hon. William, vice chairman of the Joint Economic Committee: Page Opening statement -1------------------------------- I Scherer, Frederic M., Director-designate, Bureau of Economics, Federal Trade Commission 2 Weston, J.
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