A Quote by Stephan Kinsella
In a market economy with the division and specialization of labor, people use others as means to achieve their ends. This is the essence of market cooperation.
Quote Topics
Quote Author
Related Quotes
Capitalism or market economy is that system of social cooperation and division of labor that is based on private ownership of the means of production.
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.
The gains from specialization go all the way back to Adam Smith. He talked about the advantage of a bigger market being that we could have a finer division of labor and be more specialized.
The market is not a place, a thing, or a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.
The romantics were reacting against a modern culture that divided individuals from themselves (through specialisation in the division of labor), from others (the competitive market place) and from nature, which had been reduced down to a machine through technology. The antidote to such division is unity and wholeness, which means feeling at home again in the world.
The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to carry this debt. [...] The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real estate prices rather than to build new factories and employ more labor.
The growth of means of transport has created a world market and an opportunity for division of labor embracing all the developed and most of the undeveloped states.
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.
What makes the existence and the evolution of society possible is precisely the fact that peaceful cooperation under the social division of labor in the long run best serves the selfish concerns of all individuals. The eminence of the market society is that its whole functioning and operation is the consummation of this principle.
The strong economy means there is fiscal firepower and we need to use that to show people the benefits of the free-market system.
The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts on his own behalf; but everybodys actions aim at the satisfaction of other peoples needs as well as at the satisfaction of his own. Everybody in acting serves his fellow citizens.
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.
Modern techniques have torn down state frontiers, both economical and intellectual. The growth of means of transport has created a world market and an opportunity for division of labor embracing all the developed and most of the undeveloped states.
Economists have understood since the Victorian era that the main benefits of trade come from comparative advantage: the idea that people can specialize in what they're good at and then benefit from exchange. The principle is no more mysterious than specialization in the labor market.
Having seen a non-market economy, I suddenly understood much better what I liked about a market economy.
What most people really object to when they object to a free market is that it is so hard for them to shape it to their own will. The market gives people what the people want instead of what other people think they ought to want. At the bottom of many criticisms of the market economy is really lack of belief in freedom itself.
Related Authors
Alan Dershowitz Quotes
American
Lawyer
Cass Sunstein Quotes
American
Lawyer
Cenk Uygur Quotes
Turkish
Lawyer
Clarence Darrow Quotes
American
Lawyer
Elizabeth Edwards Quotes
American
Lawyer
Elliott Abrams Quotes
American
Lawyer
James Carville Quotes
American
Lawyer
Judy Sheindlin Quotes
American
Lawyer
Prashant Bhushan Quotes
Indian
Lawyer
Ralph Nader Quotes
American
Lawyer
Robert Green Ingersoll Quotes
American
Lawyer
Robin S. Sharma Quotes
Canadian
Lawyer
Robin Sharma Quotes
Canadian
Lawyer
Valerie Jarrett Quotes
American
Lawyer
William Jennings Bryan Quotes
American
Lawyer
Zephyr Teachout Quotes
American
Lawyer