A Quote by Michael Sandel
Over the past three decades, markets and market thinking have been reaching into spheres of life traditionally governed by non-market norms. As a result, we've drifted from having a market economy to becoming a market society.
Related Quotes
A market economy is a tool - a valuable and effective tool - for organizing productive activity. A market society is a way of life in which market values seep into every aspect of human endeavour. It's a place where social relations are made over in the image of the market.
The most fateful change that unfolded during the past three decades was not an increase in greed. It was the expansion of markets, and of market values, into spheres of life where they don’t belong.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier. Banks didn't do that
An old market had stood there until I'd been about six years old, when the authorities had renamed it the Olde Market, destroyed it, and built a new market devoted to selling T-shirts and other objects with pictures of the old market. Meanwhile, the people who had operated the little stalls in the old market had gone elsewhere and set up a thing on the edge of town that was now called the New Market even though it was actually the old market.
Having seen a non-market economy, I suddenly understood much better what I liked about a market economy.
Yes to market economy, no to market society.
Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
One reason for the primacy of the market in shaping the modern world is that it forces a reorganization of society in order to make the market work properly . When a market comes into existence, as Marx fully appreciated, it becomes a potent force driving social change.
The economy is much bigger than the market. We will not be able to build a good economy - nor a good society - unless we look at the vast expanse beyond the market.
It's no longer the older paradigm of, 'I want to own this market, and no one else can own this market because I own this market.' The Internet has made the market limitless.
Like its agriculture, Africa's markets are highly under-capitalized and inefficient. We know from our work around the continent that transaction costs of reaching the market, and the risks of transacting in rural, agriculture markets, are extremely high. In fact, only one third of agricultural output produced in Africa even reaches the market.
As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.
We'll be going to the fish market and a farmer's market this afternoon to get what we need to make and eat dinner as a family. I'm trying to expose my kids to going to a farmers market or the fish market and learning what that's all about.
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.
I think that I could have been take apart if the bear market continued, but I waited three years before I felt the bear market was over and I was right.
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