A Quote by David Ricardo
Every transaction in commerce is an independent transaction.
Quote Topics
Quote Author
Related Quotes
Regardless of how it's done, transaction costs will continue to plummet as computers get more powerful. Low transaction costs are a wonderful thing if you're in the transaction business. They're wonderful for consumers too, making it cheaper and easier to buy things and creating new things to buy.
The credit/debit card transaction system is antiquated, expensive, and inefficient. There are over nine steps to complete a transaction from the time a customer swipes their card to payment processing, settlement, and when the merchant finally gets paid. Every step along the way costs both the consumer and the vendor in additional fees.
A writer is obviously at his most natural and relaxed when he writes in the first person. Writing is a personal transaction between two people, conducted on paper, and the transaction will go well to the extent that it retains its humanity.
To be a mass tourist, for me,...is, in lines and gridlock and transaction after transaction, to confront a dimension of yourself that is as inescapable as it is painful: As a tourist, you become economically significant but existentially loathsome, an insect on a dead thing.
COMMERCE, n. A kind of transaction in which A plunders from B the goods of C, and for compensation B picks the pocket of D of money belonging to E.
In fact, a large part of what we think of as economic activity is designed to accomplish what high transaction costs would otherwise prevent or to reduce transaction costs so that individuals can negotiate freely and we can take advantage of that diffused knowledge of which Friedrich Hayek has told us.
It's a misnomer to say you can criminalize one part of the transaction and not criminalize the entire transaction. For example in Sweden, where the law was passed in 1999. Those laws didn't actually decriminalize people who sell sex; they introduced new criminal penalties for the people who buy sex. Nothing changed in the legal status for the sex workers themselves. It's impossible for them to operate a legal business. When you criminalize part of a transaction, you're creating collateral damage for all those engaged in it. You are now making them work in a criminalized context.
As money, Bitcoin achieves two objectives; it's both a unit of transaction as well as being a store of value. The U.S. dollar, for example, is a unit of transaction, but it is not a store of value.
The old idea of a good bargain was a transaction in which one man got the better of another. The new idea of a good contract is a transaction which is good for both parties to it.
What we want to do to monetize Venmo is to add more and more capabilities. Anywhere you see a PayPal merchant, you can click on that button and actually use your Venmo account to check out at that merchant. Then we'll monetize that transaction exactly the same way we monetize a PayPal transaction.
Charity is to will and do what is just and right in every transaction.
Sex is like any other transaction, except that it is not like any other transaction.
If I do not know the will of my Father, and what He requires of me in a certain transaction, if I ask Him to give me wisdom concerning any requirement in my life, or in regard to my own course, or that of my friends, my family, my children, or those that I preside over, and get no answer from Him, and then do the very best that my judgement will teach me, He is bound to own and honor that transaction, and He will do so to all intents and purposes.
Your customers are judging every aspect of every transaction and rating everything, from friendliness of people to ease of doing business to quality of product to service after the sale.
In Delhi, where I grew up, commerce is brusque. You don't ask each other how your day has been. You might not even smile. I'm not saying this is ideal - it's how it is. You're tied together by a transaction. The customer doesn't tremble before complaining about how cold his food is.
No matter what your circumstances are, whether you are in prosperity or in adversity, you can learn from every person, transaction, and circumstance around you.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist