A Quote by Paul Samuelson
In well-functioning markets, price equals opportunity cost. Meaning that the proper way to price out and charge us for things is to charge us what those resources could otherwise have produced. This is a lesson the Soviet Union never learned at all, and the rest is history.
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Technology allows us to weed out a lot of the extraneous circumstances that can happen in certain environments. If you have an opportunity to say, "I'm going to be in charge of my own narrative. I'm going to be the one who sees that this is OK for me," like anything else, it just gives you a position of feeling like you can be in charge of those things.
We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.
If Broadway shows charge preview prices while the cast is in dress rehearsal, why should restaurants charge full price when their dining room and kitchen staffs are still practicing?
The price of an e-book is a lot less than the price that we're charging for a hardcover book. It's about the same as we charge for a paperback. And that means a different revenue stream.
Why were the Europeans bothered about the Soviet Union at all? It was nothing to do with us. China had nothing to do with us. Why were we not building, without reference to the Soviet Union, a good society in our own countries? But no, we were all - in one way or another - obsessed with the bloody Soviet Union, which was a disaster. What people were supporting was failure. And continually justifying it.
Think about it: Iran, Cuba, Venezuela - these countries are tiny compared to the Soviet Union. They don't pose a serious threat to us the way the Soviet Union posed a threat to us.
We're not getting paid. We have these great musicians with us and it gives us a real charge. And the audience gives us a charge, because they keep it interesting all the time.
One big lesson I learned from movie [making] was I don't do creative projects that I headline unless I have all the control. I can't deal with having to live with other people's screw ups, and that's just sort of the way the movie business works. The people with the money are in charge. Until I'm in charge, I don't want to play that game.
Clearly the price considered most likely by the market is the true current price: if the market judged otherwise, it would quote not this price, but another price higher or lower.
That taught me how to work harder. I learned all about mental toughness on the practice field. If things weren't working out for me in high school, in college, early in my pro career, my solution was always to work harder and internalize. That way, whenever I got an opportunity, I was always prepared. See, there are a lot of guys who are all talk. They say they want to work harder and be the best, but they never pay the price. I love paying the price.
I was in charge of price controls in World War II and had a ceiling on overall prices. Everybody who was subject to general maximum price regulation wanted an exception and went to Congress to persuade a Congressman, or a group of people on the Hill, that I was being a menace to their industry.
There is a price tag on human liberty. That price is the willingness to assume the responsibilities of being free men. Payment of this price is a personal matter with each of us.
Economists may not know much. But we know one thing very well: how to produce surpluses and shortages. Do you want a surplus? Have the government legislate a minimum price that is above the price that would otherwise prevail. That is what we have done at one time or another to produce surpluses of wheat, of sugar, of butter, of many other commodities. Do you want a shortage? Have the government legislate a maximum price that is below the price that would otherwise prevail.
[T]he price you've paid is not the price of becoming human. It's not even the price of having the things you just mentioned. It's the price of enacting a story that casts mankind as the enemy of the world.
There is a charge For the eyeing of my scars, there is a charge For the hearing of my heart - It really goes. And there is a charge, a very large charge, For a word or a touch Or a bit of blood Or a piece of my hair or my clothes.
We have never considered any costs as fixed. Therefore we first reduce the price to a point where we believe more sales will result. Then we go ahead and try to make the price. We do not bother about the costs. The new price forces the cost down.
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