Excerpt from Economic Considerations in Fixing Resale Prices of Milk: A Paper Presented as Testimony at a Hearing of the Assembly Committee on Livestock and Dairies Held at Sacramento on March 24, 1937 to Consider Assembly Bill 2422
This proposal brings up several important questions. What forces have given rise to price fixing in general, and in what branches of economic activity is price fixing prevalent? Is price fixing socially justifiable in some branches of economic activity and not in others? What are the economic implications of price fixing from the viewpoint of general welfare, from.the standpoint of individual industries, and from the standpoint of the market-milk industry of California in particular?
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