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SULPHUR AND THE U.S. GOVERNMENT: PRICE FIGHTING IN THE 1960s *
Author(s) -
COCHRANE JAMES L.,
GRIEPENTROG GARY L.
Publication year - 1978
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1978.tb00508.x
Subject(s) - administration (probate law) , narrative , government (linguistics) , economics , economy , political science , law , philosophy , linguistics
The interaction between the domestic sulphur industry and the executive branch of the U.S. Government during the Johnson administration suggests that this important extractive industry was sensitive to governmental “moral suasion.” A narrative is provided of the relationship between the industry and the administration's economists, lawyers and departmental politicians. This narrative is followed by an appropriate least squares price model. It is shown that the administration was successful in its efforts to suppress sulphur prices during 1965‐66, that is, during the early stages of the commitment of U.S. forces to combat in Southeast Asia.