“The ultimate "causes of price" - to use a Classical term - lie deeply embedded in the psychology and techniques of mankind and his environment, and are as manifold as the sands of the sea. All economic analysis is an attempt to classify these manifold causes, to sort them out into categories of discourse that our limited minds can handle, and so to perceive the unity of structural relationship which both unites and separates the manifoldness. Our concepts of "" and "supply" are such broad categories. In whatever sense they are used, they are not ultimate determinants of anything, but they are convenient channels through which we can classify and describe the effects of the multitude of determinants of the system of economic magnitude.”

Kenneth Boulding (1944) " A Liquidity Preference Theory of Market Prices http://cas.umkc.edu/econ/economics/faculty/wray/631Wray/Week%207/Boulding.pdf". In: Economica, New Series, Vol. 11, No. 42 (May, 1944), pp. 55-63.
C. Brown (2003) " Toward a reconcilement of endogenous money and liquidity preference http://www.clt.astate.edu/crbrown/brownjpke.pdf" in: Journal of Post Keynesian Economics. Winter 2003–4, Vol. 26, No. 2. 323 commented on this article, saying: "Boulding (1944) argued that if liquidity preference were divorced from the "demand for money," the former could come into its own as a theory of financial asset pricing. According to this view, rising liquidity preference or a "wave of bearish sentiment" is manifest in a shift from certain asset categories, specifically, those that are characterized by high capital uncertainty (that is, uncertainty about the future value of the asset as a result of market revaluation) to assets such as commercial paper or giltedged securities."
1940s

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Kenneth E. Boulding 163
British-American economist 1910–1993

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