Markets Quotes

“Price controls almost invariably produce black markets, where prices are not only higher than the legally permitted prices, but also higher than they would be in a free market, since the legal risks must also be compensated. While small-scale black markets may function in secrecy, large-scale black markets usually require bribes to officials to look the other way.”

“Marketing without sales is dead.”

“Before the mid-20th century, when American libertarians entangled themselves in conservative coalitions against the New Deal and Soviet Communism, "free market" thinkers largely saw themselves as liberals or radicals, not as conservatives. Libertarian writers, from Smith to Bastiat to Spencer, had little interest in tailoring their politics to conservative or "pro-business" measurements. They frequently identified capitalists, and their protectionist policies, as among the most dangerous enemies of free exchange and property rights.”

“Bad economics teaches that computers can design markets. Good economics teaches that markets can design computers.”

“[A] great embarrassing fact… haunts all attempts to represent the market as the highest form of human freedom: that historically, impersonal, commercial markets originate in theft.”

“You're an unemployed bum. Should you live in that Finnish city by the lake with the S-market and K-market? Or how about that other Finnish city by the lake with the S-market and K-market? Finnish cities are all so very different!”

“For official record, if become bankrupt old retail distribution centers-labeled supermega, so-enlarged foodstuff market- later reincarnate to become worship shrine. First sell food-stuff, next then same structure sell battered furnitures, next now born as gymnasium club, next broker flea markets, only at final end of life...sell religions.”

“What people intuitively grasped was the new efficiences in distribution, manufacturing, and marketing were changing the definition of what was commercially viable across the board. The best way to describe these forces is that they are turning unprofitable customers, products, and markets into profitable ones. Although this phenomenon is most obvious in entertainment and media, it's an easy leap to eBay to see it at work more broadly, from cars to crafts. Seen broadly, it's clear that the story of the Long Tail is really about the economics of abundance - what happens when the bottlenecks and stand between supply and demand in our culture start to disappear and everything becomes available to everyone.”

“This points to a nagging and important question about free-market ideologues: Are they ‘true believers’, driven by ideology and faith that free markets will cure underdevelopment, as is often asserted, or do the ideas and theories frequently serve as an elaborate rationale to allow people to act on unfettered greed while still invoking an altruistic motive?”