Stephen Moore Quotes

The law of supply and demand holds eternal.

A common price isn't the lowest price. It will most obviously be the highest price.

You want supply to always be full, and you use price to basically either bring more supply on or get more supply off, or get more demand in the system or get some demand out.

We might as well reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by demand or supply.

I started working and publishing in price theory by 1938.

It's a market economy. Apparently the demand for great coaches exceeds the supply, so of course the price of good coaches is going to be high.

To economists, prices serve as crucial signals to producers and consumers. In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors. But in a deregulated market, prices should vary with demand and supply.

Value is what people are willing to pay for it.

Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.

The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error.

Rent control created deadweight loss.

Supply and demand eventually rebalance. We've seen this again and again and again.

As demand goes down, you will see prices come down.

We are headed toward 'perfect capitalism,' when the laws of supply and demand become exact, because everyone knows everything about a product, service or customer. We will know precisely where the supply curve meets the demand curve, which will make the marketplace vastly more efficient.

For 99 issues out of 100 we could say that at some price they are cheap enough to buy and at some price they would be so dear that they would be sold.

Demand and supply are the opposite extremes of the beam, whence depend the scales of dearness and cheapness; the price is the point of equilibrium, where the momentum of the one ceases, and that of the other begins.

The first principle of the market economy is that it is comprised of many small buyers and sellers, which implies a substantial degree of equity. Another fundamental market principle is that costs are internalized in the producer's price.

When you talk about the economic process of a society, sometimes we separate it into two stories. One is about monetary variables. But then, we very often assume the underlying arrangement, the other variable, is 'perfect competition,' which means people do whatever they are supposed to do.

Any commodity that sees its price going higher will see new mines opening up. When the supply increases, the prices soften. When prices fall, some mines with higher production costs will shut down as they become unviable.

Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.

We use competitive markets to arrange for delivery of our food supply.

A shortage is a sign that somebody is keeping the price artificially lower than it would be if supply and demand were allowed to operate freely.

Even before I came to Chicago, I had gotten interested in the existence of dispersion of prices under conditions which economic theory said would yield a single price.

Since scarcity is the basic economic problem, if it does not exist then there is no reason for my economics course. Devoting time to the study of how people use limited resources to fulfill unlimited wants and needs should help us to discover how to best utilize the resources we have at our disposal.

Microeconomics is the study of how specific choices made by businesses, consumers and governments affect the markets for different goods and services. For example, a microeconomist might examine how price changes affect sales of apples relative to oranges.