A Quote by John D. Rockefeller
I raised my prices since there wasn't any competition it was just the smart thing to do. Why would I keep my prices up if their wasn't anyone to beat?
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There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.
I wanted the best for my company, I had to do what I did to succeed. Everyone was lowering their prices to beat there competition so I did the same I eventually beat my competition.
The problem is, to have prices fall would work fine if we didn't have all these built in rigidities on downward prices, because then things don't adjust, and that's how we have recessions and depressions, is prices and costs don't adjust together and they get out of whack, and we end up with dislocations.
My instinct is to assume that we consumers are an inconsistent bunch. We like competition if it delivers low prices, but grumble if it delivers the bad news that prices need to go up.
Just from a political perspective, do you think the president of the United States going into re-election wants gas prices to go up higher? Look, here's the bottom line with respect to gas prices: I want gas prices lower because they hurt families.
Tariffs would mean prices going up, and customers don't want higher prices.
The proposition is that prices reflect all available information, which in simple terms means since prices reflect all available information, there's no way to beat the market.
Work of all kinds is got from poor women, at prices that will not keep soul and body together, and then the articles thus made aresold for prices that give monstrous prices to the capitalist, who thus grows rich on the hard labor of our sex.
You can't tell me you can make any system or country work with low wages and high prices, and high wages with high prices don't mean anything when the prices eat up the wages and don't leave anything over.
You could raise the price of, say, a bottle of ketchup to $1.03 instead of $1, and no one would know. Raising prices just 3% per product would add 50% to your pretax income. Why not do it? It's like heroin: You do a little and you want a little bit more. Raising prices is the easy way.
I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy.
In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the prices breaks through the limit in either direction.
Who can complain about the price that Google is charging you? Or who can complain about Amazon's prices; they are simply lower than the competition's. And that's why I think we need to shift back to a more Brandeisian conception of antitrust, where we consider values other than simply efficiency and low prices.
I'll tell you what I'd do if it were up to me: I would establish a strictly controlled distribution network through which I would make most drugs, excluding the most dangerous ones like crack, legally available. Initially I would keep the prices low enough to destroy the drug trade. Once that objective was attained I would keep raising the prices, very much like the excise duty on cigarettes, but I would make an exception for registered addicts in order to discourage crime. I would use a portion of the income for prevention and treatment. And I would foster social opprobrium of drug use.
I think any company should compete on the quality of their products, their prices, the novelty they can produce, their services, because that would be fair competition.
We may well have a competitive advantage buying decent businesses at decent prices. But they won't be fabulous businesses and fabulous prices. There's too much competition and money out there, with many buyout specialists.
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