A Quote by Dale T. Mortensen

Over the years, the technology of trade has changed in response to advances in the ability to communicate. From its origins on the streets of Chicago, the Board of Trade moved to a building housing 'trading pits' for the open-outcry exchange by brokers representing buyers and sellers.

Dale T. Mortensen

Quote Topics

Ability Ability To Communicate Advances Board Brokers Building Buyers Changed Chicago Communicate Exchange Housing Moved Open Origins Over Pits Representing Response Sellers Streets Technology Trade Trading Years

Quote Author

Dale T. Mortensen
American - Economist
February 2, 1939 - January 9, 2014

Historically, large-scale global trade has served two functions: 1) the exchange of goods between willing sellers and buyers described in Econ 101 textbooks; 2) as a tool of state aggrandizement, in which the private parties are stand-ins for governmental interests.

Charles C. Mann

For most of Wall Street's history, stock trading was fairly straightforward: buyers and sellers gathered on exchange floors and dickered until they struck a deal.

Charles Duhigg

Deep down I knew that if Hell existed, it was a real place full of ruthless, venal people, like the commodity pits at the Chicago Board of Trade, Disney World, or oral arguments before the United States Supreme Court.

Richard Dooling

Find the human in the technology. The currency marketers trade in has not changed even if the methods have. Emotion is what we exchange.

Simon Mainwaring

We also exchange oil for software technology. Uruguay is one of the biggest producers of software. We are breaking with the neoliberal model. We do not believe in free trade. We believe in fair trade and exchange, not competition but cooperation. I'm not giving away oil for free. Just using oil, first to benefit our people, to relieve poverty.

Hugo Chavez

Most of what we know about sales comes from a world of information asymmetry, where for a very long time sellers had more information than buyers. That meant sellers could hoodwink buyers, especially if buyers did not have a lot of choices or a way to talk back.

Daniel H. Pink

Life can be lived at a remove. You trade in futures, and then you trade in derivatives of futures. Banks make more money trading derivatives than they do trading actual commodities.

Sebastian Faulks

For a small country like Norway, it's important for our ability to trade and to invest across borders that we have fair trade and that we have multilateral trade systems, also.

Erna Solberg

Now it's easy for someone to set up a storefront and reach the entire world in very modest ways. So these technologies that we thought would dis-intermediate traditional sellers gave more people the tools to be sellers. It also changed the balance of power between sellers and buyers.

Daniel H. Pink

If you trade with someone and they are your biggest trading partner, it is impossible you don't have trade issues.

Subrahmanyam Jaishankar

While free trade purists have always rejected regional and plurilateral trading arrangements, the WTO's charter chose to be pragmatic and regarded RTAs and FTAs as building blocks of, rather than barriers to, the multilateral trading system.

Sanjaya Baru

Fair Trade is a market-based, entrepreneurial response to business as usual: it helps third-word farmers developing direct market access as well as the organizational and management capacity to add value to their products and take them directly to the global market. Direct trade, a fair price, access to capital and local capacity-building, which are the core strategies of this model, have been successfully building farmers' incomes and self-reliance for more than 50 years.

Paul Rice

As South Korea shows, active participation in international trade does not require free trade. Indeed, had South Korea pursued free trade and not promoted infant industries, it would not have become a major trading nation. It would still be exporting raw materials (e.g., tungsten ore, fish, seaweed) or low-technology, low-price products (e.g., textiles, garments, wigs made with human hair) that used to be its main export items in the 1960s.

Ha-Joon Chang

The WTO has outlived its usefulness as a setting for trade negotiations. It can still be a good place to resolve disputes (though this can take years) and share ideas, but most countries would be better off choosing their own trading partners and lowering trade barriers at their own pace.