부산대학교 도서관

The article deals with price prospects and price controls with particular reference to agriculture. Price prospects today have an unusual degree of uncertainty. We have developed some knowledge of price-making forces that enable us under normal peace-time conditions to indicate with some degree of confidence the probable course of the general price level and of the prices of many commodities. Confidence in forecasting or in estimating prospects is based upon reasonable expectations as to the direction and degree of price response to the ordinary supply and demand conditions. Today we are faced in every direction with extraordinary conditions. Not only do we find the supply and demand conditions violently changed, but we also have restrictions upon the extent to which prices may respond. We may refer to the course of prices in previous war periods, but in doing this we must be careful to take into account significant differences in the conditions prevailing now from those which prevailed in these periods to which we refer. We are sometimes met with the statement that conditions are so different now that reference to previous experience is of no value.