"Prices play a crucial role in determining how much of each resource gets used where and how the resulting products get transferred to millions of people. Yet this role is seldom understood by the public and it is often disregarded entirely by politicians."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Thomas Sowell, Basic Economics, 4th ed. (2010), Ch. 2. The Role of Prices
https://en.wikiquote.org/wiki/Price
Revision History
No revisions have been submitted for this quote.
Categories
Price
14 quotes on TrueQuotesView all quotes by Price →
Related Quotes
"We need to recognise that the entire information sector—from music to newspapers to telecoms to internet to sem…"
"Prices coordinate the decisions of producers and consumers in a market. Higher prices tend to reduce consumer purchas…"
"Nothing makes us understand the many roles of electricity in our lives like a power failure. Similarly, nothing shows…"
"Because economic resources are not only scarce but have alternative uses, the efficient use of these resources requir…"
"In the extreme case where the security is held by the same family for generations, a practice by no means uncommon, t…"
"There is a price which is too great to pay for peace, and that price can be put in one word. One cannot pay the price…"
"By reducing any quality to quantity, myth economizes intelligence: it understands reality more cheaply."
"[I]n all cases, for all commodities that serve to provide for the tangible or intangible needs of the consumer, it is…"
"PRICE, n. Value, plus a reasonable sum for the wear and tear of conscience in demanding it."
"The logic is simple: If you are going to be a net buyer of stocks in the future, either directly with your own money …"