Karl Marx Quotes

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.

When you’re dealing with a commodity, high productivity means that nobody makes any money.

What is “destructive competition” for producers is a bargain bonanza for consumers.

Competition drives growth in the end as opposed to monopolies.

My worldview says that competition is the consumer's best friend.

When you have more competition, you have better products and lower prices.

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.

Basic Economics 101. It's the most complicated simple subject there is.

We like to think that a free market's greatest strength is its self-corrective nature.

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

The delicate and intricate pattern of competition and cooperation in the economic behavior of the hundreds of thousands of citizens of Stockholm offers a challenge to the economist that is perhaps as complex as the challenges of the physicist and the chemist.

Economics is mostly how humans rationalize who gets what and why. It's how we instantiate our preferences about status, privileges, and power.

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.

Textbooks describe economics as the study of the allocation of scarce resources. That definition may be the 'what,' but it certainly is not the 'why.'

'Perfect competition' is considered both the ideal and the default state in Economics 101. So-called perfectly competitive markets achieve equilibrium when producer supply meets consumer demand.

Overcoming the myth that there is such a thing as an objectively defined 'free market' is the first step towards understanding capitalism.

Economics has paid a terrible price for its dalliances with the Keynesian and neoclassical theories.

You'll have lower prices under deregulation than you will through regulation.

Within a market, organizations have interests distinct from and often antagonistic to the market processes that produced and sustain them.

With competition, prices tend to be uniform; with monopoly, prices are uniformly high.

Most economic fallacies derive … from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.

All regulation can ever do is approximate the results of competition.

What we may call, by way of eminence, the dismal science.

We should rely on the markets to move on their own.

The free market economy provides an unparalleled example of a continuing healthy circulation of elites. In this dynamic economy, failure to keep up with competitors, failure to satisfy the demands of consumers in the best possible way, will topple elites quickly and establish new ones who do the job better.