Hjalmar Schacht Quotes

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.

When you offer consumers choice, let them vote with their wallets.

What is called 'capitalism' might more accurately be called consumerism. It is the consumers who call the tune, and those capitalists who want to remain capitalists have to learn to dance to it.

Neoclassical economics insists that advertising cannot force consumers to buy anything they don't already want to buy.

Teach a parrot the terms 'supply and demand' and you've got an economist.

Capitalism is a system for determining objective value.

Critics of consumer capitalism like to think that consumers are manipulated and controlled by those who seek to sell them things, but for the most part it's the other way around: companies must make what consumers want and deliver it at the lowest possible price.

We hear of the wealth of nations, of the powers of production, of the demand and supply of markets, and we forget that these words mean no more, if they mean any thing, then the happiness, and the labor, and the necessities of men.

Supply always comes on the heels of demand.

Supply and demand don’t work on a legislative schedule.

Supply creates its own demand

Supply can create its own demand.

Want and effective demand are not the same thing. If they were, the poorest nations would be the ones to display the most vigorous demand.

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.

Economics is not an attempt to generalize human desires or human behavior; but to generalize the phenomena of price.

[The consumer is] the supreme mover of economic order... for whom all goods are made and towards whom all economic activity is directed.

The real bosses, in the capitalist system of market economy, are the consumers.

In general it may be said that demand is quite as necessary to the increase of capital as the increase of capital is to demand.

It is inherent in the nature of the capitalistic economy that, in the final analysis, the employment of the factors of production is aimed only toward serving the wishes of consumers.

When the price of a drug rises, it becomes profitable and the target of new competition.

Economics is counterintuitive. It just is.

The market and the consumer and idea trump the system.

The consumers are merciless. They never buy in order to benefit a less efficient producer and to protect him against the consequences of his failure to manage better. They want to be served as well as possible. And the working of the capitalist system forces the entrepreneur to obey the orders issued by the consumers.

Economists tell us that the 'price' of an object and its 'value' have very little or nothing to do with one another. 'Value' is entirely subjective economic value, anyway while 'price' reflects whatever a buyer is willing to give up to get the object in question, and whatever the seller is willing to accept to give it up. Both are governed by the Law of Marginal Utility, which is actually a law of psychology, rather than economics. For government to attempt to dictate a 'fair price' betrays complete misunderstanding of the entire process.

[on the theory of the firm] It is exactly analogous to the analysis of the reactions of a consumer by means of indifferent curves. Indeed, a consumer is merely a 'firm' whose product is 'utility.'