Economists tell us that the 'price' of an object and its 'value' have very little or nothing to do with one another. 'Value' is entirely subjective - economic value, anyway - while 'price' reflects whatever a buyer is willing to give up to get the object in question, and whatever the seller is willing to accept to give it up. Both are governed by the Law of Marginal Utility, which is actually a law of psychology, rather than economics. For government to attempt to dictate a 'fair price' betrays complete misunderstanding of the entire process.
L. Neil SmithRelated topics
attempt buyer complete dictate economics entire fair governed government law marginal misunderstanding nothing object price process psychology question seller tell utility value whatever while willingRelated quotes
It's a mistake to think that poor people get the benefit from the welfare system. It's a total fraud. Most welfare go to the rich of this country: the military-industrial complex, the bankers, the foreign dictators, it's totally out of control. [...] This idea that the government has services or goods that they can pass on is a complete farce. Governments have nothing. They can't create anything, they never have. All they can do is steal from one group and give it to another at the destruction of the principles of freedom, and we ought to challenge that concept.
Ron Paul
Over the years, I have become convinced that Hellenism as a culture represents not a static condition of uniform sublimity mysteriously achieved and maintained as an effect of some racial advantage. Rather it should be understood as an evolving process, governed by a dynamic of change, as both language and thought underwent transformational alteration caused by a transition from orality to literacy. The instrument of change is discerned to be the invention of the Greek alphabet, at a quite late stage in the history of developing cultures.
Eric A. Havelock
A point of great importance would be first to know: what is the capacity of the earth? And what charge does it contain if electrified? Though we have no positive evidence of a charged body existing in space without other oppositely electrified bodies being near, there is a fair probability that the earth is such a body, for by whatever process it was separated from other bodies - and this is the accepted view of its origin - it must have retained a charge, as occurs in all processes of mechanical separation.
Nikola Tesla
For example: (1) As if governed by Newton's First Law of Motion, an institution will resist any change in its current direction; (2) Just as work expands to fill available time, corporate projects or acquisitions will materialize to soak up available funds; (3) Any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops; and (4) The behavior of peer companies, whether they are expanding, acquiring, setting executive compensation or whatever, will be mindlessly imitated.
Warren Buffett
On this question of principle, while actual suffering was yet afar off, they the Colonies raised their flag against a power to which, for purposes of foreign conquest and subjugation, Rome in the height of her glory is not to be compared,a power which has dotted over the surface of the whole globe with her possessions and military posts, whose morning drum-beat, following the sun, and keeping company with the hours, circles the earth with one continuous and unbroken strain of the martial airs of England.
Daniel Webster
