A Quote by Thomas Sowell
The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually by governmental activity.
Related Quotes
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.
Competition is the final price determinant and competitive prices may result in profits which force you to accept a rate of return less than you hoped for, or for that matter to accept temporary losses
Competition is the final price determinant and competitive prices may result in profits which force you to accept a rate of return less than you hoped for, or for that matter to accept temporary losses.
When you have competing companies that are engaging in the raising of prices in lock step with each other, you have to question whether or not this in coincidence or price fixing. With the merger of Exxon and Mobil and Chevron and Texaco, we have very little competition among the energy companies.
When companies get together secretly to fix prices and attempt to eliminate competition, honest businessmen suffer. I think this is wrong.
Our focus is on the customers and improving their experience. We believe that if we do that well, competition, prices, and profits will all take care of themselves.
When you have weird policy decisions in the United States that then ripple out throughout the world, the rest of the world really takes it on the chin. When the U.S. decides to set their corn on fire rather than to eat it, which is what the biofuels policy basically is - then that drives up the price of corn. It drives up the price of substitutes. And all of a sudden you have a sort of spiral of food prices. And other countries don't have the resources, because they're not allowed to, to weather the storm.
With less competition to fear, companies are emboldened to raise their mark-ups and profits. That lifts share prices and thus the wealth of already wealthy shareholders.
Individual price and wage changes will not be prevented. In the main, price changes will simply be concealed by taking the form of changes in discounts, service, and quality, and wage changes, in overtime, perquisites and so on…. But to whatever extent the freeze is enforced, it will do harm by distorting relative prices.
Even if gas prices fall, consumers will continue to be gouged at the pump the only thing that we can be sure rises faster that the price of gasoline is the skyrocketing profits of oil companies.
People always get what they want. But there is a price for everything. Failures are either those who do not know what they want or are not prepared to pay the price asked them. The price varies from individual to individual. Some get things at bargain-sale prices, others only at famine prices. But it is no use grumbling. Whatever price you are asked, you must pay.
A company's best advantage should be a quality product offered at the right price. That fair competition is what drives innovation.
The much-maligned price system works not only to secure supply but to conserve. [...] Profits and prices are the street signs of the economy. Only fools flout them.
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.
There is too much talk and gossip; pictures are apparently made, like stock-market prices, by competition of people eager for profits... All this traffic sharpens our intelligence and falsifies our judgment.
Speeches by businessmen on social responsibility...may gain them kudos in the short run. But it helps to strengthen the already too prevalent view that the pursuit of profits is wicked.... There is one and only one social responsibility of business-to...engage in open and free competition without deception or fraud.
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