Price Ceiling Quotes

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.

A shortage is a sign that somebody is keeping the price artificially lower than it would be if supply and demand were allowed to operate freely.

As an economist, whenever I hear the word shortage I wait for the other shoe to drop. That other shoe is usually price control.

We economists don't know much, but we do know how to create a shortage. If you want to create a shortage of tomatoes, for example, just pass a law that retailers can't sell tomatoes for more than two cents per pound. Instantly you'll have a tomato shortage. It's the same with oil or gas.

We must keep prices under control to ensure that price increases do not exert a major negative impact on people's lives.

Value is what people are willing to pay for it.

In the U.S., PC-makers have no incentive to lower prices because it kills their profit margins. They keep adding new features like high-end retina displays and faster processors to justify their high prices.

There are some who incline to favor a “minimum wage,” but who “kick at” a “maximum price.” Such surely forget that the capitalist could here just as easily as in the case of a rise in wages compelled by a workmen’s combination, or by any other cause, take his old profits out at the other end by raising the price of the manufactured article.

Everybody's doing it. In capitalism, you try to get the highest price you can for a product.

Rent control created deadweight loss.

There is a supply for every demand.

As much as I'd love to give everybody a really cheap option, it's just simply not possible in certain sorts of extreme events... I guarantee that our strategy on surge pricing is the optimal way to get as many people home as possible.

I was in charge of price controls in World War II and had a ceiling on overall prices. Everybody who was subject to general maximum price regulation wanted an exception and went to Congress to persuade a Congressman, or a group of people on the Hill, that I was being a menace to their industry.

A common price isn't the lowest price. It will most obviously be the highest price.

Even capital punishment could not make price control work in the days of Emperor Diocletian and the French Revolution.

You want supply to always be full, and you use price to basically either bring more supply on or get more supply off, or get more demand in the system or get some demand out.

We're going to make the product as good as we can, and we're going to try to put it out as reasonably priced as we can. We don't want a $600 shirt. We want a shirt which is around $100.

As a matter of principle, Republicans do not believe in federal price controls.

I started working and publishing in price theory by 1938.

It's a market economy. Apparently the demand for great coaches exceeds the supply, so of course the price of good coaches is going to be high.