Quotes about price
page 8

“There is nobody who is not surprised of the small price of pins; but we shall be even more surprised, when we know how many different operations, most of them very delicate, are mandatory to make a good pin. We are going to go through these operations in a few words to stimulate the curiosity to know their detail; this enumeration will supply as many articles which will make the division of this work… The first operation is to have brass go through the drawing plate to calibrate it.”

Henri-Louis Duhamel du Monceau (1700–1782) French naval engineer, botanist and agronomist

Henri-Louis Duhamel du Monceau (1776) l’"Art de l’Épinglier" (The Art of the Pin-Maker). Introduction

Drawing

“The young women of today, free to study, to speak, to write, to choose their occupation, should remember that every inch of this freedom was bought for them at a great price. It is for them to show their gratitude by helping onward the reforms of their own times, by spreading the light of freedom and of truth still wider. The debt that each generation owes to the past it must pay to the future.”

Abigail Scott Duniway (1834–1915) American suffragist, writer, journalist, pioneer

Abigail Scott Duniway, quoted in Westward the Women https://books.google.com/books?id=Xy50CwAAQBAJ&pg=PT127&lpg=PT127&dq=%22+young+women+of+today,+free+to+study,+to+speak,+to+write%22&source=bl&ots=9gDARyV3TU&sig=qp7E9Zg0u1yJCbJVQ-pqBeu49JE&hl=en&sa=X&ved=0ahUKEwi_zKKCp5zZAhUEyGMKHTdVCcQQ6AEINTAC#v=onepage&q=%22%20young%20women%20of%20today%2C%20free%20to%20study%2C%20to%20speak%2C%20to%20write%22&f=false and by the Hatfield School of Govennment's Center for Women's Leadership https://www.pdx.edu/womens-leadership/abigail-scott-duniway-speaker-series

Women, Truth, Study, Freedom

“The time has come to speak out. Britain is now locked in a vicious spiralling interest rates…The net result of completing the vicious circle is that prices have increased, the rate of inflation has gone up, the money supply has increased, unemployment has gone up, the rate of bankruptcies has increased, the industrial base has been further eroded, the Government's borrowing requirement has increased and as a result there is more pressure to raise interest rates yet again, to be followed inevitably by the same vicious circle. It is this that must be broken.”

Edward Heath (1916–2005) Prime Minister of the United Kingdom (1970–1974)

Speech to the Federation of Conservative Students in Manchester (6 October 1981), quoted in The Times (7 October 1981), p. 6.
Post-Prime Ministerial

Money, Time

“How much attention is paid to agreement between Galbraith and myself in opposing a draft and favoring an all-volunteer armed force, or in opposing tariffs and favoring free trade, or on a host of other issues? What is newsworthy is that Galbraith endorses wage and price controls, while I oppose them.”

Milton Friedman (1912–2006) American economist, statistician, and writer

A 1973 Interview with Milton Friedman – Playboy Magazine
“Interview with Milton Friedman”, Playboy magazine (Feb. 1973)

“Stop the incitement in your media and your schools.
Stop naming public squares and athletic teams after suicide bombers.
And come to the negotiating table when you have prepared your people to forego hatred and renounce terrorism - and Israel will embrace you.
Until that day, there can be no peace with Hamas. Peace at any price isn't peace; it's surrender.”

Eric Cantor (1963) American politician

Eric Cantor (2011) cited in: " Leader Cantor's remarks to AIPAC http://web.archive.org/web/20110526083308/http://majorityleader.gov/newsroom/2011/05/leader-cantors-remarks-to-aipac.html" on majorityleader.gov, posted on May 22, 2011.

People, School, Peace, Suicide

“[the U. S. mission in Somalia] Started off as a humanitarian mission and it changed into a nation-building mission, and that's where the mission went wrong. The mission was changed. And as a result, our nation paid a price. And so I don't think our troops ought to be used for what's called nation-building.”

George W. Bush (1946) 43rd President of the United States

Presidential debate, October 11, 2000 http://www.debates.org/?page=october-11-2000-debate-transcript 2000s, 2000

Thinking, Change

“It seems to me that the German people can - pointedly - tolerate 5 percent price increase better than 5 percent unemployment.”

Helmut Schmidt (1918–2015) Chancellor of West Germany 1974-1982

Interview with Helmut Schmidt on the 27. July 1972 in Bonn, partly printed in the Süddeutsche Zeitung of 28. July 1972 (nr. 171), p. 8

People

“…the power to control the supply of money, which is one of the fundamental aspects of sovereignty, has passed from government into other hands; and therefore new institutions must be set up which will in effect exercise some of the major functions of government. They would set the level of public expenditure, and settle fiscal policy, the exercise of taxing and borrowing powers of the state, since these are indisputedly the mechanism by which the money supply is determined. But they would do more than this. They would be supreme over the economic ends and the social structure of society: for by fixing prices and incomes they would have to replace the entire automatic system of the market and supply and demand—be that good or evil—and put in its place a series of value judgments, economic or social, which they themselves would have to make…There is a specific term for this sort of polity. It is, of course, totalitarian, because it must deliberately and consciously determine the totality of the actions and activities of the members of the community; but it is a particular kind of totalitarian regime, one, namely, in which authority is exercised and the decisions are taken by a hierarchy of unions or corporations—to which, indeed, on this theory the effective power has already passed. For this particular kind of totalitarianism the Twentieth Century has a name. That name is "fascist."”

Enoch Powell (1912–1998) British politician

Speech in Leamington (18 September 1972), quoted in The Times (19 September 1972), p. 12
1970s

Money, Exercises, Communication, Decision

“The example we would do well to keep in front of us is that of the Dalai Lama. He was giving a discourse on a Tibetan text about meditation. He read out a sentence, laughed and remarked, ‘Buddhist theories of creation, a disgrace! Must throw them out!’ He advises that we should keep a wastepaper basket nearby – whatever doesn’t accord with what we know now, we should cast into that basket. ‘Buddhism must face facts,’ that is what he teaches. Accordingly, he has opened Buddhist texts to minute examination. (…) That reflects confidence in one’s tradition. That is true service to the tradition. That is the way to preserve for the future ‘the pearl of great price’ in it.”

Arun Shourie (1941) Indian journalist and politician

Eminent Historians: Their Technology, Their Line, Their Fraud

Way, Confidence, Reading, Future

“I would ask you all to be on your guard against the enemy within. There are those who would stop at nothing to injure our economy and our defence. The price of liberty is still eternal vigilance. I know what a fine part the trade unionists of this country have played in our recovery effort. When they are asked to take unofficial action, which may hurt this country, let them just consider carefully whether the motives of those who ask them to strike are really concerned with the interests of the workers.”

Clement Attlee (1883–1967) Former Prime Minister of the United Kingdom

Broadcast (30 July 1950), quoted in The Times (31 July 1950), p. 4.
1950s

Motivation, Effort, Parting, Hurt

“Overconsumption by US citizens, US buy-outs of foreign companies and dollars the Pentagon spends abroad all end up in foreign central banks. These governments face a hard choice: either recycle the dollars back to America by buying US Treasury bonds or let the “free market” force up their currencies relative to the dollar – thereby pricing their exports out of world markets, creating domestic unemployment and business failures. US-style free markets hook them into a system that forces them to accept unlimited dollars. Now they want out. … The US is the world’s largest debtor, yet has avoided the pain of “structural adjustments” imposed on other debtor nations. US interest rate and tax reductions in the face of exploding trade and budget deficits are seen as the height of hypocrisy in view of the austerity programmes that Washington has forced on other countries via the International Monetary Fund and other vehicles.”

Michael Hudson (economist) (1939) American economist

Washington cannot call all the shots http://michael-hudson.com/2009/06/washington-cannot-call-all-the-shots/ (June 14, 2009) Michael-Hudson.com, 1998-

Pain, World, Failure, Business

“To take what might seem an "objective", macro-economic approach to the origins of the world economy would be to treat the behavior of early European explorers, merchants, and conquerors as if they were simply rational responses to opportunities—as if this were just what anyone would have done in the same situation. This is what the use of equations so often does: make it seem perfectly natural to assume that, if the price of silver in China is twice what it is in Seville, and inhabitants of Seville are capable of getting their hands on large quantities of silver and transporting it to China, then clearly they will, even if doing so requires the destruction of entire civilizations. Or if there is a demand for sugar in England, and enslaving millions is the easiest way to acquire labor to produce it, then it is inevitable that some will enslave them.”

David Graeber (1961) American anthropologist and anarchist

Source: Debt: The First 5,000 Years (2011), Chapter Eleven, "Age of the Great Capitalist Empires", p. 314

World, Way, Behavior, Nature

“Price dispersion is a manifestation — and, indeed, it is the measure — of ignorance in the market. Dispersion is a biased measure of ignorance because there is never absolute homogeneity in the commodity if we include the terms of sale within the concept of the commodity. Thus, some automobile dealers might perform more service, or carry a larger range of varieties in stock, and a portion of the observed dispersion is presumably attributable to such differences. But it would be metaphysical, and fruitless, to assert that all dispersion is due to heterogeneity.”

George Stigler (1911–1991) American economist

Source: "The economics of information," 1961, p. 214

“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 (1919–2007) Swiss economist

Source: The theory of money, 1978, p. 12

Money, Law, Question, Effort

“The absolute rights of man, considered as a free agent, endowed with discernment to know good from evil, and with power of choosing those measures which appear to him to be most desirable, are usually summed up in one general appellation, and denominated the natural liberty of mankind. This natural liberty consists properly in a power of acting as one thinks fit, without any restraint or control, unless by the law of nature: being a right inherent in us by birth, and one of the gifts of God to man at his creation, when he endowed him with the faculty of freewill. But every man, when he enters into society, gives up a part of his natural liberty, as the price of so valuable a purchase; and, in consideration of receiving the advantages of mutual commerce, obliges himself to conform to those laws, which the community has thought proper to establish.”

William Blackstone book Commentaries on the Laws of England

Book I, ch. 1 http://avalon.law.yale.edu/18th_century/blackstone_bk1ch1.asp: Of the Absolute Rights of Individuals. Commentaries on the Laws of England (1765–1769)

God, Law, Communication, Birth

“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.”

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

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

Freedom

“Forced from home and all its pleasures
Afric's coast I left forlorn,
To increase a stranger's treasures
O'er the raging billows borne.
Men from England bought and sold me,
Paid my price in paltry gold;
But, though slave they have enrolled me,
Minds are never to be sold.”

William Cowper (1731–1800) (1731–1800) English poet and hymnodist

Source: The Negro's Complaint (1788), Lines 1-8

Men, Pleasure, Home, Rage

“Part of the downfall came early and on theoretical grounds, with the realization that real-world information lags for aggregate variables like the price level and money supply were much too short to rationalize the persistent multiyear deviations from equilibrium that seemed to characterize business cycles in most industrialized countries. The second dubious assumption, continuous market clearing, was viewed more critically once it was recognized that it was not an inextricable concomitant of rational expectations, especially when Stanley Fischer (1977) and Edmund Phelps and John Taylor (1977) showed that rational expectations could be embedded in a model containing real-world institutional features like multiperiod wage and price contracts to generate nonmarket-clearing behavior. Once Fischer and Phelps-Taylor had shown that rational expectations by itself was a necessary but not a sufficient condition to validate new-classical policy conclusions, the race was on to develop the new-Keynesian theory based on rational expectations and one or another institutional impediment to continuous market clearing.”

Robert J. Gordon (1940) American economist

"Fresh Water, Salt Water, and other Macroeconomic Elixirs", 1989

Money, World, Behavior, Business

“If you try to improve the performance of a system of people, machines, and procedures by setting numerical goals for the improvement of individual parts of the system, the system will defeat your efforts and you will pay a price where you least expect it.”

Myron Tribus (1921–2016) American academic

Myron Tribus, Quality First, Washington, D.C.: National Society of Professional Engineers (#1459), 1992

People, Effort, Parting

“Amnesia was the price of immortality.”

Algis Budrys (1931–2008) American writer

The End of Summer, p. 27
The Unexpected Dimension (1960)

“[The right] may never bring prayer back to schools, but it has rescued all manner of rightwing economic nostrums from history’s dustbins. Having rolled back the landmark economic reforms of the sixties (the war on poverty) and those of the thirties (labor law, agricultural price supports, banking regulation), its leaders now turn their guns on the accomplishments of the earliest years of progressivism (Woodrow Wilson’s estate tax; Theodore Roosevelt’s anti-trust measures). With a little more effort, the backlash may well repeal the entire twentieth century.”

Thomas Frank book What's the Matter with Kansas?

Ibid. (p. 8).
What's the Matter with Kansas? (2004)

War, School, Law, History

“Saturday is a dismayingly bad book. The numerous set pieces—brain operations, squash game, the encounters with Baxter, etc. — are hinged together with the subtlety of a child's Erector Set. The characters too, for all the nuzzling and cuddling and punching and manhandling in which they are made to indulge, drift in their separate spheres, together but never touching, like the dim stars of a lost galaxy. The politics of the book is banal, of the sort that is to be heard at any middle-class Saturday-night dinner party, before the talk moves on to property prices and recipes for fish stew. There are good things here, for instance the scene when Perowne visits his senile mother in an old-folks' home, in which the writing is genuinely affecting in its simplicity and empathetic force. Overall, however, Saturday has the feel of a neoliberal polemic gone badly wrong; if Tony Blair — who makes a fleeting personal appearance in the book, oozing insincerity — were to appoint a committee to produce a "novel for our time," the result would surely be something like this.”

John Banville (1945) Irish writer

Banville on Saturday http://marksarvas.blogs.com/elegvar/2005/05/banville_on_sat.html, from The New York Review of Books (source dated 10 May 2005). Original source http://www.nybooks.com/articles/archives/2005/may/26/a-day-in-the-life/?pagination=false.

Books, Feeling, Home, Game

“Them [gas] prices are higher than a bus load of Mexicans at the Los Lobos concert.”

Larry the Cable Guy (1963) American stand-up comedian, actor, country music artist, voice artist

Morning Constitutions (2007)

“There is reason for this shift of emphasis from any actual price to a hypothetical 'equilibrium' price. It is usually more interesting to know where a train is going than to know exactly where it is at any moment. The 'equilibrium' position of any price, wage, firm, industry, or system is the position toward which it is tending. The importance of equilibrium analysis, then, is that it enables us to discuss the directions of change. If a train is in New- York and its 'equilibrium' position is in Chicago, we are reasonably confident that the general direction of its motion will be westward, even if it unaccountably decides to travel north for the first hundred and fifty miles.”

Kenneth E. Boulding (1910–1993) British-American economist

Source: 1940s, Economic Analysis, 1941, p. 637-638 (rev. ed. 1947); cited in Macroeconomische theorie ingeleid en voortgezet. Kluwer, 2006. p. 3

Travel, Confidence, Change, Training

“After the Sixties there was a collapse in almost everything we believed in. It culminated in the biological disaster of AIDS — an answer to every one of us who preached free love. … AIDS is a price paid for sins committed in the Sixties, and by gay men who took free love to extremes throughout the Seventies and had unrestrained, decadent, pagan sex. I support paganism in all its forms, but a price must be paid. I believed in free love, too, but we were wrong. It wasn't the Pope who was the problem. It wasn't the struggle with old-fashioned moral codes that was the problem. It was nature. Nature said, "Guess what? If you're going to be that promiscuous, I will off you."”

Camille Paglia (1947) American writer

… I believe that nature rewards things that are in its best interest and punishes things that are not.
Playboy interview (May 1995)

Love, Men, Sex, Fashion

“Ladies, your self-worth is like your price tag. If he's not offering what your worth, he can't have you. No bargains, no sales.”

Keshia Chante (1988) Canadian actor and musician

Official Website (2009)

“If being hit on the head by a falling flower tub could be worth cash to the victim, what price a child’s life under civil law?”

Lindsey Davis book The Ides of April

The Ides of April

Life, Law, Flowers

“Lord Goschen tells you that France only takes 2 per cent. of its corn from abroad, that it is self-sufficient, and that Germany only takes 30 per cent., whereas, he says, we take four-fifths. That is not a comforting reflection…it is not a comforting reflection to think that we, a part of the British Empire that might be self-sufficient and self-contained, are, nevertheless, dependent, according to Lord Goschen, for four-fifths of our supplies upon foreign countries, any one of which, by shutting their doors upon us, might reduce us to a state of almost absolute starvation. … the working man has to fear the result of a shortage of supplies and of a consequent monopoly. If in time of war one of the great countries, Russia, Germany, France, or the United States of America, were to cut off its supply, it would infallibly raise the price according to the quantity which we received from that country. If there were no war, if in times of peace these countries wanted their corn for themselves, which they will do, or if there were bad harvests, which there may be in either of these cases, you will find the price of corn rising many times higher than any tax I have ever suggested. And there is only one remedy for it. There is only one remedy for a short supply. It is to increase your sources of supply. You must call in the new world, the Colonies, to redress the balance of the old. Call in the Colonies, and they will answer to your call with very little stimulus or encouragement. They will give you a supply which will be never failing and all sufficient.”

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

Speech in Newcastle (20 October 1903), quoted in The Times (21 October 1903), p. 10.
1900s

War, World, Fear, Peace

“Perhaps justified violence is better than peace at any price.”

Edmund Cooper (1926–1982) British writer

The Uncertain Midnight (1958)

Peace

“Basically, price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal. At other times he will do better if he forgets about the stock market and pays attention to his dividend returns and to the operating results of his companies.”

Benjamin Graham (1894–1976) American investor

Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 42

Time, Forgetting

“Against slavery all right thinkers revolt, and though torture be the price of resistance, torture must be dared: though the only road to freedom lie through the gates of death, those gates must be passed; for freedom is indispensable.”

Charlotte Brontë book The Professor

Source: The Professor (1857), Ch. XXV

Death, Lie, Freedom

“Good managements produce a good average market price, and bad managements produce bad market prices.”

Benjamin Graham (1894–1976) American investor

Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 44

“I try to make money infrequently, as infrequently as possible simply because I believe that rare events are not fairly valued, and that the rarer the event, the more undervalued it will be in price.”

Nassim Nicholas Taleb book Fooled by Randomness

Fooled by Randomness (2001)

Money

“One can in particular interpret the proposition as a statement conditions under which the simplicity of incentive structure and the economies of information handling characteristic of a competitive market organization can be secured without loss of efficiency of allocation… The price system carries to each producer, resource holder, or consumer a summary of information about the production possibilities, resource availabilities and preferences of all other decision makers. Under the conditions postulated, this summary is all that is needed to keep all decision makers reconciled with a Pareto optimal state once it has been established.”

Tjalling Koopmans (1910–1985) Dutch American economist

Source: Three Essays (1957), p. 53, as cited in: Harold Kincaid, ‎Don Ross (2009) The Oxford Handbook of Philosophy of Economics. p. 128

Optimism, Decision, Loss

“"The immutable Russian policy is to get whatever they can with the least possible effort, and then ask for more. They never sacrifice their immediate benefits for future goals. They never take into account what has been said, but what has been done. They try to exact a high price for anything that they understand they have to do in any case. They are immune to ethical, humanitarian and abstract juridical arguments, being affected only by practical and realistic points of view."”

Juho Kusti Paasikivi (1870–1956) 7th President of Finland

Source: Paasikivi in a private letter (1891) from Novgorod, studying Russian culture on a grant.

Understanding, Effort, Future

“It costs so much to be a full human being that there are very few who have the enlightenment, or the courage, to pay the price…. One has to abandon altogether the search for security, and reach out to the risk of living with both arms. One has to embrace the world like a lover, and yet demand no easy return of love. One has to accept pain as a condition of existence. One has to court doubt and darkness as the cost of knowing. One needs a will stubborn in conflict, but apt always to the total acceptance of every consequence of living and dying.”

Morris West (1916–1999) Australian writer

The Shoes of the Fisherman (1963)

Love, Pain, World, Search

“You go back and you say, hey, guess what, the economy just crashed, I'm going to give you back half. I like debt for me, I don't like debt for the country. I like debt for my company, but I don't like debt for the country. For the country we have $19 trillion in debt, it's going to be very soon $21 trillion, not billion, $21 trillion in debt. And I will tell you we are sitting on a time bomb and Hillary Clinton doesn't have a clue. And President Obama has pretty much doubled the debt since he's been in office and somebody's going to pay a big price. We have to start chopping that debt down. … I wouldn't renegotiate the debt.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, June Source: In an interview with CBS This Morning Norah O'Donnell http://www.dailywire.com/news/6824/trump-yeah-so-ill-declare-america-bankrupt-james-barrett (June 22, 2016)

Time, Country

“An oil crisis looms, prices are spiking — and our president is extolling algae. After Solyndra, Keystone and promises of seaweed in their gas tanks, Americans sense a president so ideologically antipathetic to fossil fuels — which we possess in staggering abundance — that he is utterly unserious about the real world of oil in which the rest of us live.”

Charles Krauthammer (1950–2018) American journalist

Column, March 15, 2012, "Obama's oil flimflam" http://jewishworldreview.com/cols/krauthammer031512.php3#.U4T9R8JOWUk at jewishworldreview.com. 2010s, 2012

World, Sense

“Now there are two ways in which the authorities of a particular country may combine the use of financial policy and of price adjustment. (i) First, financial policy may be used for the preservation of internal balance and price adjustment for the preservation of external balance. (ii) Second, financial policy may be used for the preservation of external balance and price adjustment for the preservation of internal balance. On either of these principles the authorities of any one country can set about the simultaneous preservation of internal and external balance.”

James Meade (1907–1995) British economist

Source: The balance of payments, 1951, p. 157; As cited in: Metaxas & Weber (2013, p. 22)

Way, Country

““Liquor does this? Even after you’re sober?”
“A cruel joke, isn’t it? The gods put a price tag on everything, it seems.””

Scott Lynch The Lies of Locke Lamora

Interlude “The Last Mistake” section 1 (p. 179)
The Lies of Locke Lamora (2006)

God

“In the abstract world of American economists, equations run both ways; they believe that by changing the sign of a variable from plus to minus or from minus to plus or the price and quantity of x or y, the direction of historical movement can be reversed.”

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter Eight, International Finance, p. 336

World, Way, Change

“We should ask three basic questions of any system we encounter. The first question is, “If I am perfect at this practice, what can I expect to achieve?” Once you have heard the answer to this question, you may decide that you do not care to proceed any further, or you may find that the goal is exactly what you have always wanted. The second question is, “What are the means for attaining the goal?” The answer to this question enables you to decide whether you are willing to pay the price to get there. The third question to ask is, “Who has already reached the goal and how do they live their lives?” We should carefully scrutinize those who have supposedly reached the goal to discover their true situation in life. If we feel aligned with the answers to all three questions, then we can “go for it.””

Bhakti Tirtha Swami (1950–2005) American Hindu writer

If we do not, then we should look somewhere else.
Source: Books, Spiritual Warrior, Volume III: Solace for the Heart in Difficult Times (Hari-Nama Press, 2000), Chapter 8 - How To Strengthen Ourselves

Life, Feeling, Question, Perfection

“Bacteria represent the world's greatest success story. They are today and have always been the modal organisms on earth; they cannot be nuked to oblivion and will outlive us all. This time is their time, not the “age of mammals” as our textbooks chauvinistically proclaim. But their price for such success is permanent relegation to a microworld, and they cannot know the joy and pain of consciousness. We live in a universe of trade-offs; complexity and persistence do not work well as partners.”

Stephen Jay Gould book Eight Little Piggies

"An Earful of Jaw", p. 98
Eight Little Piggies (1993)

Pain, Age, World, Universe

“Given its price advantage and a head start in the market, Microsoft's TV strategy will be difficult for Apple to beat.”

Farhad Manjoo (1978) American journalist

Apple Doesn't Need To Make the TV of the Future http://slate.com/articles/technology/technology/2012/03/xbox_live_tv_why_microsoft_not_apple_will_dominate_television_streaming_.html in Slate (27 March 2012)

“It is imperative to get the smelters to pay a fair price for their power; otherwise, market forces can never induce them to limit their emissions.”

Tim Flannery book The Weather Makers

Source: The Weather Makers (2005), Chapter 24 (p. 231)

“Sing, my tongue, the Savior's glory,
Of His Flesh the mystery sing;
Of the Blood, all price exceeding,
Shed by our immortal King.”
Pange, lingua, gloriosi Corporis mysterium Sanguinisque pretiosi, Quem in mundi pretium Fructus ventris generosi Rex effudit gentium.

Thomas Aquinas (1225–1274) Italian Dominican scholastic philosopher of the Roman Catholic Church

Pange, Lingua (hymn for Vespers on the Feast of Corpus Christi), stanza 1

Singing

“The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.”

Benjamin Graham (1894–1976) American investor

Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 43

“All the brands and flavors of Big Salvation. At the last minute we would devise a technological fix and save ourselves. Or: the Hypotheticals were benevolent beings who would turn the planet into a peaceable kingdom. Or: God would rescue us all, or at least the true believers among us. Or. Or. Or.
Big Salvation. It was a honeyed lie. A paper lifeboat, even if we were killing ourselves trying to cling to it. It wasn’t the Spin that had mutilated my generation. It was the lure and price of Big Salvation.”

Robert Charles Wilson book Spin

Source: Spin (2005), p. 340

God, Lie

“In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand; the spiral operates when there is too much and also, unfortunately, when there is just enough.”

John Kenneth Galbraith book The New Industrial State

Source: The New Industrial State (1967), Chapter XXII, Section 4, p. 255

“An irresistible footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities — at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

1978 Chairman's Letter http://www.berkshirehathaway.com/letters/1978.html Letters to Shareholders (1957 - 2012)

“Grafting is, in effect, the healing of two common wounds. Commercial nurseries charge high prices for grafted stock, and the public bears the cost…”

Ken Kern American writer

p, 125
The Owner-Built Homestead (1977)

“There is no great danger to politics in the desire for certainty at any price.”

Bernard Crick (1929–2008) British political theorist and democratic socialist

Source: In Defence Of Politics (Second Edition) – 1981, Chapter 5, A Defence Of Politics Against Technology, p. 92.

“Jacques Spex had explained to Ieyasu the methods of Spain and Portugal and in 1612 Henrick Brower presented to the Shogun a memorandum on Spanish and Portuguese methods of conquest. In the time of the second Tokugawa Shogun (Hidetada) the European nations were themselves denouncing each other's imperialist intentions. The Japanese converts had, as elsewhere, shown that their sympathies were with their foreign mentors and for this they had to pay a very heavy price. The Christian rebellion of 1637 in Shembara disclosed this danger to the Shogun. It took a considerable army and a costly campaign to put down the revolt which was said to have received support from the Portuguese. The Japanese were also fully informed of the activities of the Portuguese, the Dutch, the Spaniards and the English in the islands of the Pacific especially in the Philippines, the Moluccas and Java ‑ and these had taught them the necessity of dealing with the foreigners firmly and of denying them an opportunity to gain a foothold on Japanese territory. In 1615 the Japanese sent a special spy to the southern regions to report on the activities of the Europeans there. They were strengthened by the information that reached them in 1622 of a Spanish plan to invade Japan itself. By the beginning of the seventeenth century Spain had consolidated her position in the Philippines, where she maintained a considerable naval force. Japan was the only area in the Pacific which Spain could attack without interfering with Portuguese claims or the Papal distribution of the world which in her own interests she was bound to uphold. It seemed natural to the Spaniards that they should undertake this conquest. The reaction of the Shogunate was sharp and decisive. All Spaniards in Japan were ordered to be deported, the firm policy of eliminating the converts was put into effect and a few years later the country was closed to the Western nations.”

K. M. Panikkar (1895–1963) Indian diplomat, academic and historian

Asia and Western Dominance: a survey of the Vasco Da Gama epoch of Asian history, 1498–1945

World, Support, Nature, Decision

“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 of self-respect.”

Woodrow Wilson (1856–1924) American politician, 28th president of the United States (in office from 1913 to 1921)

Des Moines Iowa speech (1 February 1916) http://www.combat.ws/S3/BAKISSUE/CMBT01N2/SMOKE.HTM, on "The Westerm Preparedness Tour" http://www.allthingswilliam.com/presidents/wilson.html 1910s

Peace

“Democratic experimentalism sees the core of the good of human liberation in a softening of the tension between two great competing demands upon our vitality and greatnessː the need to engage in group life and the need to diminish the price, in subjugation and loss of self-identity, that we regularly pay for such engagement.”

Roberto Mangabeira Unger (1947) Brazilian philosopher and politician

Source: Democracy Realizedː The Progressive Alternative (1998), p. 165

Life, Loss

“Undoubtedly one of the most important provisions in the preparation for national defense is a proper and sound selective service act. Such a law ought to give authority for a very broad mobilization of all the resources of the country, both persons and materials. I can see some difficulties in the application of the principle, for it is the payment of a higher price that stimulates an increased production, but whenever it can be done without economic dislocation such limits ought to be established in time of war as would prevent so far as possible all kinds of profiteering. There is little defense which can be made of a system which puts some men in the ranks on very small pay and leaves others undisturbed to reap very large profits. Even the income tax, which recaptured for the benefit of the National Treasury alone about 75 per cent of such profits, while local governments took part of the remainder, is not a complete answer. The laying of taxes is, of course, in itself a conscription of whatever is necessary of the wealth of the country for national defense, but taxation does not meet the full requirements of the situation. In the advent of war, power should be lodged somewhere for the stabilization of prices as far as that might be possible in justice to the country and its defenders.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Toleration and Liberalism (1925)

Men, War, Justice, Law

“Optimizing responses of economic agents are simultaneously feasible only if the proper prices are already known to them. But these prices must somehow themselves be the result of the same responses.”

Tjalling Koopmans (1910–1985) Dutch American economist

Tjalling C. Koopmans, "Is the Theory of Competitive Equilibrium With It?," The American Economic Review, Vol. 64, No. 2, May 1974; p. 327

Optimism

“Rooted in freedom, bonded in the fellowship of danger, sharing everywhere a common human blood, we declare again that all men are brothers, and that mutual tolerance is the price of liberty.”

Will Durant (1885–1981) American historian, philosopher and writer

Declaration of INTERdependence (1945)

Men, Freedom

“I was informed this afternoon by the distinguished Secretary of the Treasury that his preliminary estimates indicate that our balance of payments deficit has been reduced from $2.8 billion in 1964 to $1.3 billion, or less, in 1965. This achievement has been made possible by the patriotic voluntary cooperation of businessmen and bankers working with your government. We must now work together with increased urgency to wipe out this balance of payments deficit altogether in the next year. And as our economy surges toward new heights we must increase our vigilance against the inflation which raises the cost of living and which lowers the savings of every family in this land. It is essential, to prevent inflation, that we ask both labor and business to exercise price and wage restraint, and I do so again tonight. I believe it desirable, because of increased military expenditures, that you temporarily restore the automobile and certain telephone excise tax reductions made effective only 12 days ago. Without raising taxes—or even increasing the total tax bill paid—we should move to improve our withholding system so that Americans can more realistically pay as they go, speed up the collection of corporate taxes, and make other necessary simplifications of the tax structure at an early date.”

Lyndon B. Johnson (1908–1973) American politician, 36th president of the United States (in office from 1963 to 1969)

1960s, State of the Union Address (1966)

Family, Exercises, Business, Speed

“Among flower vases, the ware that is given the highest rank is old Iga, from the sixteenth and seventeenth centuries, and it commands the highest price. When old Iga has been dampened, its colors and its glow take on a beauty such as to awaken on afresh. Iga was fired at very high temperatures. The straw ash and the smoke from the fuel fell and flowed against the surface, and as the temperature dropped, became a sort of glaze. Because the colors were not fabricated but were rather the result of nature at work in the kiln, color patterns emerged in such varieties as to be called quirks and freaks of the kiln. The rough, austere, strong surfaces of old Iga take on a voluptuous glow when dampened. It breathes to the rhythm of the dew of the flowers.”

Yasunari Kawabata (1899–1972) Japanese author, Nobel Prize winner

Japan, the Beautiful and Myself (1969)

Beauty, Color, Flowers, Nature

“Essentially the fault lies in the fact that the democratic political process is at best regulated rivalry; it does not even in theory have the desirable properties that price theory ascribes to truly competitive markets.”

John Rawls book A Theory of Justice

Source: A Theory of Justice (1971; 1975; 1999), Chapter IV, Section 36, p. 226

“It is a common misconception that low wages are the main factor influencing prices. The reality is that low capital costs, and the absence of taxation and regulation, are far more important.”

Peter D. Schiff (1963) American entrepreneur, economist and author

Quotes from Crash Proof (2006)

Reality

“Why are you being so stingy?", Sobakevich demanded. "It's cheap at the price. A rogue would cheat you, sell you some worthless rubbish instead of souls, but mine are as juicy as ripe nuts, all picked—they are all either craftsmen or sturdy peasants.”

Nikolai Gogol book Dead Souls

Dead Souls (1842)

Soul, Cheating

“This is the part where I tell you guys that my first car was a Corvette that I got for, like, half price or something and you all hate me forever.”

Brian Clevinger (1978) writer

http://www.nuklearpower.com/daily.php?date=051115

Hate, Cars, Guy, Parting

“HENRY: Now it is necessary to court her, and win her, and put on this clean dressing gown, and cut my various nails, and drink something that will kill the millions of germs in my mouth, and say something flattering, and be witty and bonny, and hale and kinky, all just to ease this wrinkle in the groin. It seems a high price.”

Donald Barthelme (1931–1989) American writer, editor, and professor

“Snow White” [play], p. 309.
The Teachings of Don. B: Satires, Parodies, Fables, Illustrated Stories, and Plays of Donald Barthelme (1992)

Drink

“When a large part of the market for British textiles was in the colonies, a fall in the price of tea and cocoa caused unemployment in Lancashire.”

Joan Robinson (1903–1983) English economist

Source: Economic Heresies (1971), Chapter V, Nonmonetary Models, p. 67

Parting, Tea

“Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.”

Benjamin Graham (1894–1976) American investor

Part II, Chapter VI, The Question of Price Stability, p. 85
Storage and Stability (1937)

“The death of the spirit is the price of progress.”

Eric Voegelin (1901–1985) American philosopher

Eric Voegelin (1987), The New Science of Politics: An Introduction, ISBN 0226861147, p. 131

Death

“But now for the final exam: If you expect to be a net saver during the next five years, should you hope for a higher or lower stock market during that period? Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. In effect, they rejoice because prices have risen for the "hamburgers" they will soon be buying. This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

1997 Chairman's Letter
Letters to Shareholders (1957 - 2012)

Happiness, Hope, Sense, Future

“The price-tax conditions necessary to sustain the Pareto optimality of a competitive market solution under the assumed convexity conditions are tantamount to standard Pigovian rules, with neither taxes imposed upon, nor compensation paid to, the victims of externalities.”

William J. Baumol (1922–2017) American economist

Source: The theory of environmental policy, 1988, p. 45; Cited in: Vatn, Arild, and Daniel W. Bromley. "Externalities-a market model failure." Environmental and resource economics 9.2 (1997): 135-151.

Optimism

“I don’t think that I want to make any wager if it means dealing with a Church that has grown so corrupt that it makes obedience and submission the price of its saving the life of someone’s child.”

Dan Simmons book The Rise of Endymion

Source: The Rise of Endymion (1997), Chapter 10 (p. 165)

Life, Thinking

“The Revolution of ’82 (1782) was a revolution which enabled Irishmen to sell at a much higher price their honour, their integrity, and the interests of their country; it was a revolution which while at one stroke it doubled the value of every borough monger in the Kingdom, left three-fourths of our countrymen [Catholics] slaves as it found them, and the Government of Ireland in the base, wicked and contemptible hands who had spent their lives plundering and degrading her … Who of the veteran enemies of the country lost his place, or his pension? Not one. The power remained in the hands of our enemies, again to be exerted for our ruin, with this difference, that, formerly, we had our distresses gratis at the hands of England, but now we pay very dearly to receive the same with aggravations at the hands of Irishmen—yet this we boast of and call a Revolution.”

Theobald Wolfe Tone (1763–1798) Irish politician

Attributed, An Argument on Behalf of the Catholics of Ireland by a Northern Whig. (September, 1791)

Country

“THE AMERICAN people have of late been more conscious of the business cycle, more sensitive to every wrinkle of economic curves, more alert to the possible need for contra-cyclical action on the part of government, than ever before in our history. Minor changes of employment or of productivity or of the price level, which in an earlier generation would have gone unnoticed, are nowadays followed closely by laymen as well as experts.”

Arthur F. Burns (1904–1987) American economist and diplomat

Source: "Progress Towards Economic Stability", 1969, p. 101

People, History, Business, Change

“I was very offended personally when the Leader of the Opposition, as Minister of Health, said, and I quote, “Abortion is the easy way out.” I was very personally offended by those comments. You said that in March 2004, I suggest you check the records. I was also very offended on behalf of the women of Australia when in the course of the carbon pricing campaign the Leader of the Opposition said, 'What the housewives of Australia need to understand as they do the ironing.'”

Julia Gillard (1961) Australian politician and lawyer, 27th Prime Minister of Australia

Thank you for that painting of women's roles in modern Australia!
Misogyny speech

Women, Health, Way, Quotes

“Eternal vigilance, as they say, is the price of freedom. Add intellectual integrity to the cost basis.”

Stephen Jay Gould book Leonardo's Mountain of Clams and the Diet of Worms

"The Tallest Tale", p. 315
Leonardo's Mountain of Clams and the Diet of Worms (1998)

Freedom

“After a volcano has erupted our landscape is filled with silence. A moment ago it was on fire, now the rapid ashes are warming our feet. a moment ago it was dazzlingly light, now it is blessed twilight, kind to our eyes. All is at rest. The volcano is asleep, even our poor nerves are asleep. We are not happy, but we have a momentary peace. A moment ago we have seen the desert of our life in all its appalling vastness, now we see that the desert is in flower. The oases are few are afar between, but they do exist; we know that the desert is vast, but we also know that in the biggest deserts are the most oases. To gain this knowledge we must pay dearly, and an eruption is the price; it is high; but there is no lower one. That is why we should bless the volcanoes, thank them because their glare is so strong and their first so hot. Thank them for having dazzled us, for only then do we acquired our full sight; thank them, too, for having burnt us, for only as burnt children can we warm each other.But moments of peace are short. All other moments are much longer, and to know this is also wisdom. But because they are so short we must life in those moments as thought it were only then we lived. They knew this too.”

Stig Dagerman book A Burnt Child

Source: A Burnt Child (1948), p. 263

Life, Wisdom, Happiness, Children

“THE INDUSTRIAL SYSTEM requires that prices be under effective control. And it seeks the greatest possible influence over what buyers take at the established prices.”

John Kenneth Galbraith book The New Industrial State

Source: The New Industrial State (1967), Chapter XX, Section 1, p. 219 (Caps as per text...)

“In 302, the Roman emperor Diocletian commanded "there should be cheapness," declaring, "Unprincipled greed appears wherever our armies … march. … Our law shall fix a measure and a limit to this greed." The predictable result of Diocletian's food price controls were black markets, hunger and food confiscation by his soldiers. Despite the disastrous history of price controls, politicians never manage to resist tampering with prices -- that's not a flattering observation of their learning abilities.”

Walter E. Williams (1936) American economist, commentator, and academic

1970s, Economics for the Citizen (1978)

Hunger, Law, Food, History

“[There are] signs of froth in some local markets where home prices seem to have risen to unsustainable levels.”

Alan Greenspan (1926) 13th Chairman of the Federal Reserve in the United States

July 2005 http://www.startribune.com/nation/12598281.html, in testimony to the House Financial Services Committee. 2000s

Home

“I hope I have seduced the reader to consider that we have in front of us the possibility of an open-ended quest for resonant passages between human experience and cognitive science. The price however is to take first-person accounts seriously as valid domain of phenomena. And beyond that, to build a sustained tradition of phenomenological examination that is almost entirely nonexistent today in our western science and culture at large.”

Francisco Varela (1946–2001) Chilean biologist

Varela (1996) "Neurophenomenology : A methodological remedy for the hard problem" in: Journal of Consciousness Studies, J. Shear (Ed.), June 1996. Cited in: Francisco J. Varela 1946 - 2001 http://www.enolagaia.com/Varela.html on enolagaia.com, 2013

Hope, Science, Personality

“The model used by Wall Street to price trillions of dollar's worth of derivatives thought of the financial world as an orderly, continuous process. But the world was not continuous; it changed discontinuously, and often by accident.”

Michael Lewis book The Big Short

Source: The Big Short (2010), Chapter Five, Accidental Capitalists, p. 116

World, Change

“Gleaming shell of an outworn lie; fable of Right divine—
You gained your crowns by heritage, but Blood was the price of mine.
The throne that I won by blood and sweat, by Crom, I will not sell
For promise of valleys filled with gold, or threat of the Halls of Hell!”

Robert E. Howard (1906–1936) American author

"The Scarlet Citadel" (1933)

Lie, Hell

“When credit is expanding, the rising price level and high profits bring about a high rate of interest. When the expansion has reached, the limit permitted by the stock of gold, the rate of interest is put still higher in order to bring about a fall in the price level. When the fall in prices takes effect, a low rate of interest becomes appropriate, and when credit contraction has proceeded so far that a redundant supply of gold has accumulated, the rate of interest is depressed still lower in order to bring about a renewed rise in the price level. Thus a high rate of interest corresponds first with rising, then with falling, prices, and so synchronizes with high prices. A low rate of interest corresponds first with falling, and then with rising, prices, and so synchronizes with low prices.”

Ralph George Hawtrey (1879–1975) British economist

Ralph George Hawtrey, quoted in Irving Fisher, The Theory of Interest (1930), Chapter 19. The Relation of Interest to Money and Prices

“Truth is too big a price to pay for the luxury of avoiding pain now and then.”

Vanna Bonta (1958–2014) Italian-American writer, poet, inventor, actress, voice artist (1958-2014)

Rewards of Passion (Sheer Poetry) (1981)

Pain, Truth

“If you find many people who are hard and indifferent to you in a world that you consider to be unhospitable and cruel—as often, indeed, happens to a tender-hearted, stirring young creature—you will also find there are noble hearts who will look kindly on you, and their help will be precious to you beyond price.”

Thomas Carlyle (1795–1881) Scottish philosopher, satirical writer, essayist, historian and teacher

1860s, On The Choice Of Books (1866)

People, World, Help, Heart

“Question: If you could pick one cause that has gotten us here, what'd you say it is?
Ron Paul: Easy money. The Federal Reserve artificially lowering interest rates, deceiving the people, the investors, the savers, into believing that there's a lot of savings out there, and that we should invest more, build more houses, more cars. It's the malinvestment, which is every bit as dangerous, from the inflation of the money supply, as is the high prices that usually come.”

Ron Paul (1935) American politician and physician

Fox Business Network, March 24, 2009 http://www.youtube.com/watch?v=hkJ1sa9mxCU 2000s, 2006-2009

Money, People, Cars, Question

“They say that [martial law] would have cost my country less than the bloody anarchy which is there now. I can only reply that it is easy to play the prophet a posteriori and that a sovereign may not save his throne by shedding his compatriots' blood. A dictator can, because he acts, because he acts in the name of an ideology which he believes must triumph whatever the price. But a sovereign is not a dictator. There is an alliance between him and his people which he cannot break. A dictator has nothing to hand over. Power lies in him, and in him alone. A sovereign receives a crown and it is his duty to pass it on.”

Mohammad Reza Pahlavi (1919–1980) Shah of Iran

Page 182
Publications, The Shah's Story (1980), On himself

People, Law, Country

“Fame has earned me great applause, thanks to our generous people. of course, this fortune brought my financial situation. and the increasing love of the people who did not decline for years. Everything is mutual. I liked it very much, too many listeners, my followers … I paid my price with my heart, unfortunately. my heart is tired and said that this event comes from the stress of the scene that lasts for 25 years; doctors. And I said goodbye to the stage for 4 years. I gave my heart. I bought a lot but I gave it my heart, sir.”

Zeki Müren (1931–1996) Turkish musician

What did your honor stole from you? https://www.youtube.com/watch?v=Fq_jdymMh1U

Love, People, Heart

“The country will not have to pay the piper. Through a combination of sound policy actions and a great deal of good luck we are well on our way to a soft landing and a period of growth and price stability.”

Lawrence H. Summers (1954) Former US Secretary of the Treasury

Lawrence Summers in: David Warsh (April 20, 1986) "Stockman's Timing Was Never Worse", Boston Globe, p. A1.
1980s

Way, Country

“.. that the Army is using defoliants in Honduras to create fire-free zones. This charge has been strongly denied by the Pentagon. Asked to comment just prior to leaving for Hawaii, where he will convalesce for the next two or three weeks, Prexy said, quote, Well, if you can’t see them you can’t shoot them. End quote. Support has been growing for a bill which Senator Richard Howell will introduce at the earliest opportunity, forbidding the issue of a passport to any male between sixteen and sixty not in possession of a valid discharge certificate or medical exemption. Welcoming the proposal, a Pentagon spokesman today admitted that of the last class called for the draft more than one in three failed to report. Your steaks are going to cost you more. This warning was today issued by the Department of Agriculture. The price of animal fodder has quote taken off like a rocket unquote, following the mysterious...”

John Brunner book The Sheep Look Up

.
June “IF IT MOVES, SHOOT IT”
The Sheep Look Up (1972)

Quotes, Support, Animals

“I suppose the pursuit of fashion has always carried a price, monetary or otherwise.”

Robert Charles Wilson book Julian Comstock: A Story of 22nd-Century America

Source: Julian Comstock: A Story of 22nd-Century America (2009), p. 234

Fashion

“Competition has been curtailed by larger corporations; it has been sabotaged by groups of smaller entrepreneurs acting collectively. Both groups have made clear the locus of liberalism's rhetoric of small business and family farm.The character and ideology of the small entrepreneur and the facts of the market are selling the idea of competition short. These liberal heroes, the small businessmen and the farmer, do not want to develop their characters by free and open competition; they do not believe in competition, and they have been doing their best to get away from it.When the small businessmen are asked whether they think free competition is…a good thing, they answer…, 'Yes, of course—what do you mean?' … Finally: 'How about here in this town in furniture?'—or groceries, or whatever the man's line is. Their answers are of two sorts: 'Yes, if it's fair competition,' which turns out to mean: 'if it doesn't make me compete.' … The small businessman, as well as the farmer, wants to become big, not directly by eating up others like himself in competition, but by the indirect ways means practiced by his own particular heroes—those already big. In the dream life of the small entrepreneur, the sure fix is replacing the open market.But if small men wish to close their ranks, why do they continue to talk…about free competition? The answer is that the political function of free competition is what really matters now…[f]or, if there is free competition and a constant coming and going of enterprises, the one who remains established is 'the better man' and 'deserves to be where he is.' But if instead of such competition, there is a rigid line between successful entrepreneurs and the employee community, the man on top may be 'coasting on what his father did,' and not really be worthy of his hard-won position. Nobody talks more of free enterprise and competition and of the best man winning than the man who inherited his father's store or farm. …… In Congress small-business committees clamored for legislation to save the weak backbone of the national economy. Their legislative efforts have been directed against their more efficient competitors. First they tried to kill off the low-priced chain stores by taxation; then they tried to eliminate the alleged buying advantages of mass distributor; finally they tried to freeze the profits of all distributors in order to protect their own profits from those who could and were selling goods cheaper to the consumer.The independent retailer…has been pushing to maintain a given margin under the guise of 'fair competition' and 'fair-trade' laws. He now regularly demands that the number of outlets controlled by chain stores be drastically limited and that production be divorced from distribution. This would, of course, kill the low prices charged consumers by the A&P;, which makes very small retail profits, selling almost at cost, and whose real profits come from the manufacturing and packaging.…Under the threat of 'ruinous competition,' laws are on the books of many states and cities legalizing the ruin of competition.”

C. Wright Mills book White Collar: The American Middle Classes

Section One: The Competitive Way of Life.
White Collar: The American Middle Classes (1951)

Life, Men, Books, Family

“I think that what drives the American public, which is like a huge, lumbering beast, is anger; and the other thing that drives it is self–interest. What I'm trying to do in my books is different from other people writing about child abuse. I'm not trying to engender sympathy so much as to say to the public, 'Today's victim is tomorrow's predator.' The things that you fear have a genesis, and the price of being safe in this world is early intervention. It costs you something to look away, not just in moral terms, but in practical terms.”

Andrew Vachss (1942) American writer and lawyer

Crime Times, Nov./Dec. 1988

People, Books, World, Fear

“I'm reading George Borrow's Lavengro… and, of course, it fits perfectly into the pattern of my current reading! - Fallada and Arnold Bennett's The Old Wives Tale, i. e. my constant musings on the nineteenth century. I was amazed to learn from Bennett's book that in Papa's childhood you could watch an execution, which was a public entertainment, a real show, with high prices paid for windows with a good view, and the local hotels doing a roaring trade.”

Ida Friederike Görres (1901–1971) Austrian writer and noble

Broken Lights Diaries 1955-57.

Books, Learning, Reading, Childhood

“So far we have studies how, for each commodity by itself, the law of demand in connection with the conditions of production of that commodity, determines the price of it and regulates the incomes of its producers. We considered as given and invariable the prices of other commodities and the incomes of other producers; but, in reality the economic system is a whole of which the parts are connected and react on each other. An increase in the incomes of the producers of commodity A will affect the demand for commodities Band C, etc., and the incomes of their producers, and, by its reaction will involve a change in the demand for A. It seems, therefore, as if, for a complete and rigorous solution of the problems relative to some parts of the economic system, it were indispensable to take the entire system into consideration. But this would surpass the powers of mathematical analysis and of our practical methods of calculation, even if the values of all the constants could be assigned to them numerically.”

Antoine Augustin Cournot Researches into the Mathematical Principles of the Theory of Wealth

Source: Researches into the Mathematical Principles of the Theory of Wealth, 1897, p. 137

Law, Mathematics, Problem, Reality

“Am I happy? There are moments when I am overwhelmed by a sense of my success and ease. I become aware that thousands of things which had formerly been forbidden fruit to me are at my command now. I distinctly recall that crushing sense of being debarred from everything, and then I feel as though the whole world were mine. One day I paused in front of an old East Side restaurant that I had often passed in my days of need and despair. The feeling of desolation and envy with which I used to peek in its windows came back to me. It gave me pangs of self-pity for my past and a thrilling sense of my present power. The prices that had once been prohibitive seemed so wretchedly low now. …
And yet in all such instances I feel a peculiar yearning for the very days when the doors of that restaurant were closed to me and when the Canal Street merchant was a magnate of commerce in my estimation. Somehow, encounters of this kind leave me dejected. The gloomiest past is dearer than the brightest present. In my case there seems to be a special reason for feeling this way. My sense of triumph is coupled with a brooding sense of emptiness and insignificance, of my lack of anything like a great, deep interest.”

Abraham Cahan book The Rise of David Levinsky

The Rise of David Levinsky (1917)

Happiness, World, Way, Feeling

“Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.”

Alan Greenspan (1926) 13th Chairman of the Federal Reserve in the United States

Testimony Before the Committee on Banking and Financial Services, U.S. House of Representatives July 24, 1998 http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm. 1990s

“[In this auction we may expect the article to be sold to] "the most eager buyer at a price which is just about the highest he is willing to pay, for in this case the most eager buyer does not know what prices the other buyers are willing to give [and] … each buyer fear that someone may slip in ahead of him.”

Kenneth E. Boulding (1910–1993) British-American economist

Source: 1940s, Economic Analysis, 1941, p. 42 as cited in: Vernon L. Smith (1991) Papers in Experimental Economics. p. 516

Fear

“Once stock prices reach the point at which it is hard to value them by logical methodology, stocks will be bought as they were in the late 1920s not for investment but to be unloaded at a still higher price. The ensuing break could be disastrous because panic psychology cannot be summarily altered or reversed by easing money policies.”

Alan Greenspan (1926) 13th Chairman of the Federal Reserve in the United States

Greenspan in 1959. http://www.safehaven.com/article-171.htm. 1950–60s

Money