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.
Since, however, the reduced surplus value is to be distributed among them in like manner, the modification of their respective parts in the production of surplus value must find expression in a modification of the prices.
Ninepence for fourpence
1st Earl Lloyd-George of Dwyfor
The anchovy which is found in the sea at Athens, men despise on account of its abundance and say that it is a poor man's fish; but in other cities, they prize it above everything, even where it is far inferior to the Attic anchovy.
In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.
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.
On average, you will pay less for a home on a Monday than you will on a Saturday and a Sunday.
I expected higher prices for some books, but [there would be] flexibility for other books.
Share prices fluctuate more than share values.
You may grow very quickly the first two years and then watch the business decline, unless you really start selling product at any price range with various degrees of quality.
It was a very big gamble. I lost my job in France, I received a job in which was extremely uncertain, how long would IBM be interested in research, but the gamble was taken and very shortly afterwards, I had this extraordinary fortune of stopping at Harvard to do a lecture and learning about the price variation in just the right way.
The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power of money changes so far as that thing goes.
You can get a diamond which is worth 10 cents; you can get a diamond of exactly the same size, which is worth a hundred dollars.
