A Quote by Ludwig von Mises
In the market economy the worker sells his services as other people sell their commodities. The employer is not the employee's lord. He is simply the buyer of services which he must purchase at their market price.
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Globalization, meaning the global expansion of a market economy, is the only way we can guarantee widespread prosperity and peace. A lot of nations are just so small, that unless they can sell their goods and services on the market they're never going to develop, they don't have an internal market that's big enough to sustain anything.
Throughout history governments have been chronically short of revenue. The reason should be clear: unlike you and me, governments do not produce useful goods and services that they can sell on the market; governments, rather than producing and selling services, live parasitically off the market and off society.
The purchase of a bargain issue presupposes that the market's current appraisal is wrong, or at least that the buyer's idea of value is more likely to be right than the market's. In this process the investor sets his judgement against that of the market. To some this may seem arrogant or foolhardy.
If you have a company that doesn't sell its goods or services abroad and focuses only on the domestic market, it will keep paying a price.
I think the market is always going to be around. The goal is not to say, let's get rid of the market, because the market does render a huge number of services, and I don't want to have a fight about the price of something every time I buy a book or a bottle of water.
We do recognise that there are areas where the current financial services market, the banking market, just isn't working for chunks of the British economy.
That it is logical, fair and reasonable to maintain the purchasing power of an hour's work in terms of goods and services the employee must purchase in his daily living.
Whereas a competitive firm must sell at the market price, a monopoly owns its market, so it can set its own prices. Since it has no competition, it produces at the quantity and price combination that maximizes its profits.
We must continue to liberalise the single market, cut red tape and basically create a digital single market. We have not completed the single market yet, there is not sufficient free movement of goods, labour, services and money. We have to keep on working at that against all the protectionist tendencies that we have right now.
I have read a great deal of economic theory for over 50 years now, but have found only one economic "law" to which I can find NO exceptions: Where the State prevents a free market, by banning any form of goods or services, consumer demand will create a black market for those goods or services, at vastly higher prices. Can YOU think of a single exception to this law?
Within the market society each serves all his fellow citizens and each is served by them. It is a system of mutual exchange of services and commodities, a mutual giving, and receiving.
It [the free market] is an organizational way of doing things, featuring openness, which enables millions of people to cooperate and compete without demanding a preliminary clearance of pedigree, nationality, color, race, religion, or wealth. It demands only that each person abide by voluntary principles, that is, by fair play. The free market means willing exchange; it is impersonal justice in the economic sphere and excludes coercion, plunder, theft, protectionism, and other anti-free market ways by which goods and services change hands.
If you like what Wall Street did for the housing market, you'll love what Wall Street is doing for commodities. Goldman's ability to influence any portion of the price for a key component of the industrial economy is simply unacceptable.
Price point is always important for mass market commodities. Look at the iPhone. It's expensive. But I think it is going to sell. It does something that people really want to do. People want to share it. It's an emotional thing that goes beyond the price point. It has emotional power. You are connected to it.
There's a market for fiction based on financial services. People wanted me to write stories based on this sector. There's a gap in the market, and I'm trying to fill it.
We want to open spaces for young people to thrive in this economy, and that is why we said... when government buys commodities and services, we must have some set aside for young people.
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