Richard Whately Quotes

Something is worth what somebody will pay for it. Nothing else, nothing more, nothing less.

Value is not determined by those who set the price. Value is determined by those who choose to pay it.

The price of ability does not depend on merit but on supply and demand.

You'd never look at a Rembrandt and say, 'That's just wood and canvas and paint - how much?!' It's all about how many people want it. It works on a pair of jeans as well - they're just material and stitching, and as soon as you walk out of the shop, they're worth nothing.

If you're going to sell stock and somebody wants to buy it at a price and that price is not a price you dictate, but demand dictates, sell it to them now.

The basis of the free market is anytime you can generate revenue or profit, you've created value in excess of the resources you consume in a society. That's probably the most unbiased utility function there is, as opposed to someone's opinion.

The exchangeable value of all commodities, rises as the difficulties of their production increase.

Things are worth what they will fetch at a sale.

Supply always comes on the heels of demand.

The money wanted by the public must be purchased at its market price.

Everything is for sale if the price is right.

The value of money comes from the private sector in the form of price for product, services rendered, what people are willing to pay for something they want or need. That's where value happens. Government has nothing to do with that.

Bitcoin is like anything else: it's worth what people are willing to pay for it.

Mankind does not drink alcohol because there are breweries, distilleries, and vineyards; men brew beer, distill spirits, and grow grapes because of the demand for alcoholic drinks.

Neither the entrepreneurs nor the farmers nor the capitalists determine what has to be produced. The consumers do that.

It is not the fault of the entrepreneurs that the consumers,the people, the common man,prefer liquor to Bibles and detective stories to serious books, and that governments prefer guns to butter. The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely.

The law of property determines who owns something, but the market determines how it will be used.

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

Every thing receives a value from its use, and the Value is raised [or lowered], according to its Quality, Quantity and Demand.

The law of supply and demand holds eternal.

I believe in the principle that if you have more competition, it will drive down the prices.

When it comes to jobs, jobs are just like products in the sense that the free market operates and sees that somebody gets paid what they're worth.

As you know, low demand and high supply means a drop in value of anything, including the dollar.

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

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