“Gardiner C. Means [was] an economist whose theory regarding pricing practices in some industries was influential in setting national policy in the New Deal and later when inflation struck after World War II... In the mid-1930's Dr. Means, then a comparatively obscure adviser to Agriculture Secretary Henry A. Wallace, developed a theory to explain why prices did not always rise and fall in response to the classical law of supply and demand. The theory developed a popular name, {{w|administered prices}}.”