“In all cases, for all commodities that serve to provide for the tangible or intangible needs of the consumer, it is in the consumer's best interest that labor and trade remain free, because the freedom of labor and of trade have as their necessary and permanent result the maximum reduction of price.”

Source: The Production of Security (1849), p. 22

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "In all cases, for all commodities that serve to provide for the tangible or intangible needs of the consumer, it is in …" by Gustave de Molinari?

Gustave de Molinari28

Belgian political economist and classical liberal theorist 1819–1912

Related quotes

“The production of security should, in the interests of the consumers of this intangible commodity, remain subject to the law of free competition.”

Gustave de Molinari (1819–1912) Belgian political economist and classical liberal theorist

Source: The Production of Security (1849), p. 22–23.

“The production of security should, in the interests of the consumers of this intangible commodity, remain subject to the law of free competition. … [N]o government should have the right to prevent another government from going into competition with it, or to require consumers of security to come exclusively to it for this commodity.”

Gustave de Molinari (1819–1912) Belgian political economist and classical liberal theorist

Source: The Production of Security (1849), p. 22

“If economists ruled the world, there would be no need for a World Trade Organization. The economist's case for free trade is essentially a unilateral case- that is, it says that a country serves its own interests by pursuing free trade regardless of what other countries may do.”

Paul Krugman (1953) American economist

"What should trade negotiators negotiate about?" Journal of Economic Literature, Vol. 35, No. 1 (Mar., 1997)

“Labor is a commodity, like any other, and its price is therefore determined by exactly the same laws that apply to other commodities. In a regime of big industry or of free competition – as we shall see, the two come to the same thing – the price of a commodity is, on the average, always equal to its cost of production. Hence, the price of labor is also equal to the cost of production of labor. But, the costs of production of labor consist of precisely the quantity of means of subsistence necessary to enable the worker to continue working, and to prevent the working class from dying out. The worker will therefore get no more for his labor than is necessary for this purpose; the price of labor, or the wage, will, in other words, be the lowest, the minimum, required for the maintenance of life.”

Friedrich Engels (1820–1895) German social scientist, author, political theorist, and philosopher

(1847)

“The smallest unit of the institutional economists is a unit of activity — a transaction, with its participants. Transactions intervene between the labor of the classic economists and the pleasures of the hedonic economists, simply because it is society that controls access to the forces of nature, and transactions are, not the "exchange of commodities," but the alienation and acquisition, between individuals, of the rights of property and liberty created by society, which must therefore be negotiated between the parties concerned before labor can produce, or consumers can consume, or commodities be physically exchanged.”

John R. Commons (1862–1945) United States institutional economist and labor historian

Source: "Institutional Economics," 1931, p. 652

“Economists’ instincts are that uncertainty about current prices, future prices, and the real meaning of nominal trade-offs between the present and the future; distortions introduced by the failure of government finance to be inflation-neutral; windfall redistributions; and the focusing of attention not on preferences, factors of production, and technologies but on predicting the future evolution of nominal magnitudes must degrade the functioning of the price system and reduce the effectiveness of the market economy at providing consumer utility. The cumulative jump in the price level as a result of the inflation of the 1970s may have been very expensive to the United States in terms of the associated reduction in human welfare.”

J. Bradford DeLong (1960) American economist

Ch. 6 : "America’s Peacetime Inflation: The 1970s" in Reducing Inflation: Motivation and Strategy (1997) edited by Christina D. Romer and David H. Romer

“Is that to say we are against Free Trade? No, we are for Free Trade, because by Free Trade all economical laws, with their most astounding contradictions, will act upon a larger scale, upon the territory of the whole earth; and because from the uniting of all these contradictions in a single group, where they will stand face to face, will result the struggle which will itself eventuate in the emancipation of the proletariat.”

Karl Marx (1818–1883) German philosopher, economist, sociologist, journalist and revolutionary socialist

Writing in the Chartist newspaper (1847), in Marx Engels Collected Works Vol 6, pg 290.

“It is absolutely impossible to reconcile free trade with trade unionism. You can have one or you can have the other, but you cannot have both; and I am glad to say that in saying that I have the support of a trade unionist with whom I have disagreed upon almost every other question, Mr. Keir Hardie…it is not only the consumer you have got to consider. The producer is of still more importance; and to buy in the cheapest market is not the sole duty of man, and it is not in the best interest of the working classes.”

Joseph Chamberlain (1836–1914) British businessman, politician, and statesman

Speech in Liverpool (27 October 1903), quoted in The Times (28 October 1903), p. 6.
1900s

“The interests of the consumer of any commodity whatsoever should always prevail over the interests of the producer.”

Gustave de Molinari (1819–1912) Belgian political economist and classical liberal theorist

Source: The Production of Security (1849), p. 22

“The tricks of the intangible trade will become the tricks of your trade.”

Kevin Kelly (1952) American author and editor

Out of Control: The New Biology of Machines, Social Systems and the Economic World (1995), New Rules for the New Economy: 10 Radical Strategies for a Connected World (1999)

Help us to complete the source, original and additional information

Gustave de Molinari28

Related quotes

Related topics