Market Quotes - page 64
The equilibrium price level is determined at the point where the money market is in equilibrium. The temporary suspension of Walras' Law, far from making economic nonsense, thus appears as the crucial "trick" by which the tatonnement process is decomposed in two parts.
This analysis confirms that for a neoclassical general equilibrium system with neutral money there is indeed a consistent decomposition procedure, based on appropriate compensation principles, permitting the determination of real variables in the real sector while the price level is determined in the monetary sector. However, the amount of intellectual effort which, in the wake of Lange and Patinkin, was devoted to this issue, is entirely out of proportion to its economic significance. The real economic question is not whether a system can be dichotomized, but whether money is neutral.
Jürg Niehans
The fact that nobody asks you to sing is not an indication that you should sing louder. This sounds obvious until it's applied to matters like mass transportation. There are virtually no private mass transit companies. This does not represent the failure of the market to provide a needed service, it represents the failure of an unneeded service to go away!
L. Neil Smith
Many individuals in government don't seem to understand the laws of economics. Most of them - aside from those in Congress - seem to be concentrated in the area of 'drug enforcement'. They often brag at news conferences that their interception of drugs between producer and consumer has raised the 'street value' of the drugs, meaning that the drugs are now scarcer than they were. What these statists stubbornly refuse to acknowledge is that this only increases the market incentive to cash in on those higher prices by making up for the artificial scarcity.
L. Neil Smith
I've been round Japan, Hong Kong, Korea, and China in the last few months and the message that I've been taking is that New Zealand is building an up market dynamic into a connected economy. And that we are not the old-fashioned, ship mutton kind of product the people associate their export in work.
Helen Clark
They are trying as directly as possible to sell you experiences, i. e. what you are able to do with the car, not the car as a product itself. An extreme example of this is this existing economic marketing concept, which basically evaluates the value of you as a potential consumer of your own life. Like how much are you worth, in the sense of all you will spend to buy back your own life as a certain quality life. You will spend so much in doctors, so much in beauty, so much in transcendental meditation, so much for music, and so on. What you are buying is a certain image and practice of your life. So what is your market potential, as a buyer of your own life in this sense?
Slavoj Žižek
Night City was like a deranged experiment in social Darwinism, designed by a bored researcher who kept one thumb permanently on the fast-forward button. Stop hustling and you sank without a trace, but move a little too swiftly and you'd break the fragile surface tension of the black market; either way, you were gone, with nothing left of you but some vague memory in the mind of a fixture like Ratz, though heart or lungs or kidneys might survive in the service of some stranger with New Yen for the clinic tanks.
William Gibson
I want completing the single market to be our driving mission. I want us to be at the forefront of transformative trade deals with the US, Japan and India as part of the drive towards global free trade. And I want us to be pushing to exempt Europe's smallest entrepreneurial companies from more EU directives.
David Cameron
