Kenneth Lay Quotes
You'll have lower prices under deregulation than you will through regulation.
Lay, Kenneth. Interview. Frontline: Blackout, PBS, 21 June 2001.
Manava Dharma Shastra. Ancient Hindu India had what may well have been the most regulated mercantile economy of any society in history. All prices for all goods were to be set by the king. In order to prevent the stultifying effect of price controls, the Hindus required that the prices be reset very frequently to reflect various market conditions. It was a highly regulated form of capitalism. This text is a part of the Hindu Holy Texts. Hindus believe that Manu was a prophet whose text is revealed or inspired.
Brandeis was U. S. Supreme Court Justice Louis D. Brandeis, 1856-1941, who wrote that competition would control prices if only healthy competition could be maintained—the problem was resolved by both increasing competition and much more stringent regulation of corporations.
Collection of Spoken Words of the Prophet. Ironically, despite the reverence with which words of the Hadith are accorded in Islam, from time to time Muslim theologians and authorities have attempted to establish “fair prices” despite this free market view of the Prophet.
The Black Plague, which raged in Europe from 1347 to 1349, had left relatively few able bodied people alive. Given this shortage of labor there was a rapid inflation, especially to the distress of the landed class who had to pay much more for their food. The king therefore established what amounted to price controls, wage controls and forces labor. See {611125} and {611126}
Kenneth Lee Lay was the founder, CEO and chairman of Enron who was heavily involved in the eponymous accounting scandal that unraveled in 2001 into the largest bankruptcy ever to that date. Lay was indicted by a grand jury and was found guilty of 10 counts of securities fraud at trial. Lay died in July 2006 while vacationing in his house near Aspen, Colorado, three months before his scheduled sentencing. A preliminary autopsy reported Lay died of a myocardial infarction (heart attack) caused by coronary artery disease; his death resulted in a vacated judgment.
