“Why, between the dark pools and the public exchanges, were there nearly sixty different places, most of them in New Jersey, where you could buy any listed stock? Why did the public exchanges fiddle with their own pricing so often—and why did you get paid by one exchange to do exactly the same thing for which another exchange might charge you?”

— Michael Lewis , book Flash Boys

Source: Flash Boys (2014), p. 44

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 "Why, between the dark pools and the public exchanges, were there nearly sixty different places, most of them in New Jer…" by Michael Lewis?

Michael Lewis 40

American writer 1960

Related quotes

“Why did the hunters in the Wealth of Nations exchange beavers for deer?”

Joan Robinson (1903–1983) English economist

Source: Contributions to Modern Economics (1978), Chapter 14, The Philosophy of Prices, p. 146

“Of all the mysteries of the stock exchange there is none so impenetrable as why there should be a buyer for everyone who seeks to sell.”

John Kenneth Galbraith book The Great Crash, 1929

Source: The Great Crash, 1929 (1954 and 1997 https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929), Chapter VI, The Crash, p. 104

“And if your life is a suitable exchange for my honor, why is my honor not a suitable exchange for your life?”

Diana Gabaldon book Outlander

Source: Outlander

“A foreign visitor to the Berlin Stock Exchange would easily be deceived. There are announcements of daily quotations and price changes as though a free Stock Exchanged still existed, but nowhere would he find the former ‘public’— private buyers and sellers—as represented by independent brokers, bankers and ‘visitors.”

Günter Reimann (1904–2005) German economist

Source: The Vampire Economy: Doing Business Under Fascism, 2014, p. 178

“Outside the firm, price movements direct production, which is co-ordinated through a series of exchange transactions on the market. Within a firm, these market transactions are eliminated and in place of the complicated market structure with exchange transactions is substituted the entrepreneur-coordinator, who directs production. It is clear that these are alternative methods of coordinating production. Yet, having regard to the fact that, if production is regulated by price movements, production could be carried on without any organization at all might we ask, why is there any organization?”

Ronald H. Coase (1910–2013) British economist and author

Source: 1930s-1950s, "The Nature of the Firm" (1937), p. 388

“The exchange of one fear or pleasure or pain for another fear or pleasure or pain, which are measured like coins, the greater with the less, is not the exchange of virtue. O, my dear Simmias, is there not one true coin, for which all things ought to exchange?—and that is wisdom; and only in exchange for this, and in company with this, is anything truly bought or sold, whether courage or temperance or justice. …in the true exchange, there is a purging away of all these things, and temperance, and justice, and courage, and wisdom herself are a purgation of them.”

Socrates (-470–-399 BC) classical Greek Athenian philosopher

Plato, Phaedo

“It is one thing to be supportive, and another to be in exchange for nothing.”

Mariano Rajoy (1955) Spanish politician

30 June, 2015
As President, 2015
Source: Cadena COPE https://twitter.com/cope_es/status/615778637678129156

“Since property here exists in the form of stock, its movement and transfer become purely a result of gambling on the stock exchange, where the little fish are swallowed by the sharks and the lambs by the stock exchange wolves.”

Karl Marx book Das Kapital

Vol. III, Ch. XXVII, The Role of Credit, p. 440.
Das Kapital (Buch III) (1894)

“What is the right exchange rate at one point is not necessarily the right exchange rate at another.”

Norman Lamont (1942) British politician

As he stated on Channel 4 News, 15th December 2008

“It is not true that on an exchange of commodities we give value for value. On the contrary, each of the two contracting parties in every case, gives a less for a greater value. … If we really exchanged equal values, neither party could make a profit. And yet, they both gain, or ought to gain. Why? The value of a thing consists solely in its relation to our wants. What is more to the one is less to the other, and vice versa. … It is not to be assumed that we offer for sale articles required for our own consumption. … We wish to part with a useless thing, in order to get one that we need; we want to give less for more. … It was natural to think that, in an exchange, value was given for value, whenever each of the articles exchanged was of equal value with the same quantity of gold. … But there is another point to be considered in our calculation. The question is, whether we both exchange something superfluous for something necessary.”

Étienne Bonnot de Condillac (1714–1780) French academic

Le Commerce et le Gouvernement (1776), as quoted in Marx's Capital, Vol. I, Ch. 5.

Help us to complete the source, original and additional information

Michael Lewis 40

Related quotes

Related topics