“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.” GivingLittlesGovernmentLawValuesProcessAcceptingPsychologyEconomicObjectsWillingGiving UpFairsEconomicsBetrayEconomistMisunderstandingSubjectiveUtilitySellersBuyersEconomic Value Author:L. Neil Smith
“Where is the pricing system that offers the consumer a fair choice between air to breathe and motor cars to drive about in?” ChoicesAirCarOffersFairsEconomicsBreatheConsumersMotorPricingMotor Cars Book:Contributions to Modern Economics Source: Contributions to Modern Economics
“The basic issue of an American society which is fair, which is providing opportunity for all, is nowadays being replaced by the correct perception that we're living in a rigged economy - where it doesn't matter how hard you worked, the result will be all the income goes to the people at the very top. It's leading to a lot of frustration and anger, and people want some fundamental changes to the way we do economics and growth.” PeopleWayWantMatterHardOpportunityGrowthResultsEconomyIssuesPerceptionFairsEconomicsFundamentalsIncomeFrustrationProvidingReplacedAmerican SocietyRigged Author:Bernie Sanders
“Nobody ever saw a dog make a fair and deliberate exchange of one bone for another with another dog.” SawsDogFairsEconomicsBonesDeliberateWealth Of Nations Book:Wealth of Nations (Abridged) Source: Wealth of Nations (Abridged)
“For at least another hundred years we must pretend to ourselves and to every one that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still.” YearsLittlesStillsLibertyEconomicHundredFairsEconomicsFoulAvaricePrecautionUsuryAvarice Greed Book:Essays in persuasion Source: Essays in persuasion
“All the political angst and moral melodrama about getting 'the rich' to pay 'their fair share' is part of a big charade. This is not about economics, it is about politics.” BigsPoliticalPayMoralRichShareFairsEconomicsAngstMelodramaFair ShareCharades Author:Thomas Sowell
“Including everyone in the economic, wealth-creating life of the nation is today the best way for Labor (Australian Labor Party) to meet its twin goals of raising national prosperity and creating a fair and decent society.” WayTodayNationsGoalWealthPartyEconomyEconomicCreatingFairsEconomicsLaborIncludingProsperityBest WayDecentAustraliaTwinsAustralianCreating LifeIncluding Everyone Author:Julia Gillard
“There can be no such thing as 'fairness in taxation.' Taxation is nothing but organized theft, and the concept of a 'fair tax' is therefore every bit as absurd as that of 'fair theft.'” BitsLibertyEconomicTaxesConceptsFairsEconomicsAbsurdOrganizedFairnessTaxationTheft Author:Murray Rothbard
“The liberal ideal is that everyone should have fair access and fair opportunity. This is not equality fo result. Its equality of opportunity. There's a fundamental difference.” ShouldPhilosophyPoliticalOpportunityDifferencesResultsFairsIdealsEconomicsShould HaveFundamentalsEqualityAccessEquality Of Opportunity Author:Robert Reich