„Is precisely in market dealings that market prices are formed for all kinds of goods and services, which will be taken as the bases of calculation. Where there is no free market, there is no pricing mechanism; without a pricing mechanism, there is no economic calculation.“

Letzte Aktualisierung 14. Februar 2022. Geschichte
Ludwig von Mises Foto
Ludwig von Mises6
österreichischer Wirtschaftswissenschaftler 1881 - 1973

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Benjamin Graham Foto

„Good managements produce a good average market price, and bad managements produce bad market prices.“

—  Benjamin Graham American investor 1894 - 1976

Quelle: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 44

Karl Polanyi Foto

„Market economy implies a self-regulating system of markets; in slightly more technical terms, it is an economy directed by market prices and nothing but market prices.“

—  Karl Polanyi, buch The Great Transformation

The Great Transformation (1944), Ch. 4 : Societies and Economic Systems

Wendy Brown Foto
Andrey Illarionov Foto

„There is no such thing as a gas market prices, because there is no such thing as gas market. What they are doing to Ukraine is obvious price discrimination.“

—  Andrey Illarionov Russian politician 1961

In response to the question: The Kremlin says it just charges market prices.
"Q&A: Putin's Critical Adviser," 2005

N. Gregory Mankiw Foto

„The greater the penalties laid on sellers in the black market… the higher the black market price.“

—  Kenneth E. Boulding British-American economist 1910 - 1993

Kenneth Boulding (1947) " A Note on the Theory of the Underground economy http://www.jstor.org/stable/137604". In: The Canadian Journal of Economics and Political Science. Vol. 13 no.1, p. 117; quoted in: Michael York (2007) The Entrepreneurial Outlaw http://www2.gcc.edu/dept/econ/ASSC/Papers2007/Entrepreneurial_Outlaw_York.pdf
1940s

William Stanley Jevons Foto

„that in the same open market, at any one moment, there cannot be two prices for the same kind of article“

—  William Stanley Jevons, The Theory of Political Economy

Quelle: The Theory of Political Economy (1871), Chapter IV, Theory of Exchange, p. 97.

Francis Bacon Foto
David Ricardo Foto
Geoffrey Hodgson Foto
Alan Greenspan Foto

„[There are] signs of froth in some local markets where home prices seem to have risen to unsustainable levels.“

—  Alan Greenspan 13th Chairman of the Federal Reserve in the United States 1926

July 2005 http://www.startribune.com/nation/12598281.html, in testimony to the House Financial Services Committee.
2000s

Emily Dickinson Foto

„I took one Draught of Life —
I'll tell you what I paid —
Precisely an existence —
The market price, they said.“

—  Emily Dickinson, I took one Draught of Life —

1725: I took one Draught of Life —
The Complete Poems of Emily Dickinson (1960)

Ernesto Che Guevara Foto
David Ricardo Foto

„A BOUNTY on the exportation of corn tends to lower its price to the foreign consumer, but it has no permanent effect on its price in the home market.“

—  David Ricardo British political economist, broker and politician 1772 - 1823

Quelle: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XXII, Bounties and Prohibitions, p. 201

„Let's consider first Hayek's claim that prices in free market capitalism do not give people what they morally deserve. Hayek's deepest economic insight was that the basic function of free market prices is informational. Free market prices send signals to producers as to where their products are most in demand (and to consumers as to the opportunity costs of their options). They reflect the sum total of the inherently dispersed information about the supply and demand of millions of distinct individuals for each product. Free market prices give us our only access to this information, and then only in aggregate form. This is why centralized economic planning is doomed to failure: there is no way to collect individualized supply and demand information in a single mind or planning agency, to use as a basis for setting prices. Free markets alone can effectively respond to this information.
It's a short step from this core insight about prices to their failure to track any coherent notion of moral desert. Claims of desert are essentially backward-looking. They aim to reward people for virtuous conduct that they undertook in the past. Free market prices are essentially forward-looking. Current prices send signals to producers as to where the demand is now, not where the demand was when individual producers decided on their production plans. Capitalism is an inherently dynamic economic system. It responds rapidly to changes in tastes, to new sources of supply, to new substitutes for old products. This is one of capitalism's great virtues. But this responsiveness leads to volatile prices. Consequently, capitalism is constantly pulling the rug out from underneath even the most thoughtful, foresightful, and prudent production plans of individual agents. However virtuous they were, by whatever standard of virtue one can name, individuals cannot count on their virtue being rewarded in the free market. For the function of the market isn't to reward people for past good behavior. It's to direct them toward producing for current demand, regardless of what they did in the past.
This isn't to say that virtue makes no difference to what returns one may expect for one's productive contributions. The exercise of prudence and foresight in laying out one's production and investment plans, and diligence in carrying them out, generally improves one's odds. But sheer dumb luck is also, ineradicably, a prominent factor determining free market returns. And nobody deserves what comes to them by sheer luck.“

—  Elizabeth S. Anderson professor of philosophy and womens' studies 1959

How Not to Complain About Taxes (III): "I deserve my pretax income" http://left2right.typepad.com/main/2005/01/how_not_to_comp_1.html (January 26, 2005)

James Tobin Foto

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