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Markets Quotes

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Markets Quotes

“The problems on campus life today are not about free speech. They are about how the students have absolutely nothing to do with their lives but sit and listen to lectures, find the best parties to attend, and otherwise discover first-world problems to stew about and protest. That's the root of the problem. This is not a commercial environment where people are incentivized to find value in each other. Campuses have become completely artificial 4-year holding tanks for infantilized kids with zero experience in actual life in which people find ways to get along. These students are not serving each other in a market exchange, and very few have worked at day in their lives, so their default is to find some offense and protest. It's all they've been taught to do and all they know how to do. Idle hands and parents' money = trouble.”

“In a society in which nearly everybody is dominated by somebody else's mind or by a disembodied mind, it becomes increasingly difficult to learn the truth about the activities of governments and corporations, about the quality or value of products, or about the health of one's own place and economy. In such a society, also, our private economies will depend less and less upon the private ownership of real, usable property, and more and more upon property that is institutional and abstract, beyond individual control, such as money, insurance policies, certificates of deposit, stocks, and shares. And as our private economies become more abstract, the mutual, free helps and pleasures of family and community life will be supplanted by a kind of displaced or placeless citizenship and by commerce with impersonal and self-interested suppliers... Thus, although we are not slaves in name, and cannot be carried to market and sold as somebody else's legal chattels, we are free only within narrow limits. For all our talk about liberation and personal autonomy, there are few choices that we are free to make. What would be the point, for example, if a majority of our people decided to be self-employed? The great enemy of freedom is the alignment of political power with wealth. This alignment destroys the commonwealth - that is, the natural wealth of localities and the local economies of household, neighborhood, and community - and so destroys democracy, of which the commonwealth is the foundation and practical means.”

“A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses between life and death. A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.”

“My take on socialism is this: Socialism only seems to work when you don't fully implement it, when you keep enough capitalism around to pay socialism's bills, at least for a time. It's the difference between milking the cow and killing it. Socialism has no theory of wealth creation; it's just a destructive, envy-driven fantasy about redistributing it after something else (and somebody else) creates it first.”

“Socialism is not really an option in the material world. There can be no collective ownership of anything materially scarce. One or another faction will assert control in the name of society. Inevitably, the faction will be the most powerful in society -- that is, the state. This is why all attempts to create socialism in scarce goods or services devolve into totalitarian systems of top-down planning.”

“Monopoly is a market, or part of a market, reserved to the exclusive possession of one or more sellers by means of the initiation of physical force by the government, or with the sanction of the government. Monopoly exists insofar as the freedom of competition is violated, with the freedom of competition being understood as the absence of the initiation of physical force as the preventive of competition. Where there is no initiation of physical force to violate the freedom of competition, there is no monopoly. The freedom of competition is violated only insofar as individuals are excluded from markets or parts of markets by means of the initiation of physical force. Monopoly is thus a market or part of a market reserved to the exclusive possession of one or more sellers by means of the initiation of physical force. It is thus something imposed upon the market from without—by the government. (Private individuals—gangsters—can initiate force to reserve markets only if the government allows it and thereby sanctions it.) Thus, monopoly is not something which emerges from the normal operation of the economic system, and which the government must control.”

“The overwhelming tendency of markets is to bring people together, break down prejudices, persuade people of the need to cooperate regardless of class, race, religion, sex/gender, and physical ability. The same is obviously and especially true of sexual orientation. It is the market that rewards people who put aside their biases and seek gains through trade. This is why states devoted to racialist and hateful policies always resort to violence in control of the marketplace.”

“We are approaching a soft data catastrophe. Entire lives, from tastes in music and clothes to deepest personal convictions - all produced by networks of feedback between datamining and content recommendation algorithms. The 'catastrophe' is when these algorithms unconsciously (or maybe, consciously?) lead people down presupposed paths for modern and emerging markets. Algorithms could right now be helping make people convert to a religion, drug addicts, vegan, LGBTQ, ethnonarcissists, fat, cult members, suicidal, narcissists, atheist, poly, mass shooters...”

“We have a tendency to describe capitalism with familiar, well-worn words like ‘markets’ and ‘trade’. But this isn’t quite accurate. Markets and traders were around for thousands of years before capitalism, and they are innocent enough on their own. What makes capitalism different from most other economic systems in history is that it’s organised around the imperative of constant expansion, or ‘growth’: ever-increasing levels of industrial extraction, production and consumption, which we measure as Gross Domestic Product (GDP). Growth is the prime directive of capital. Not growth for any particular purpose, mind you, but growth for its own sake. And it has a kind of totalitarian logic to it: every industry, every sector, every national economy must grow, all the time, with no identifiable end-point.”

“The contrast between nature and grace, between human appetites and interests and religion, is not absolute, but relative. It is a contrast of matter and the spirit informing it, of stages in a process, of preparation and fruition. Grace works on the unregenerate nature of man, not to destroy it, but to transform it. And what is true of the individual is true of society. An attempt is made to give it a new significance by relating it to the purpose of human life as known by revelation.”

“The fundamental priority of every business is to create value for its customers or clients — to improve their lives in some way through the products or services being sold by the business.”

“Like any ecosystem, a modern economy cannot survive without recycling. Just as animals and plants are continually recycling the oxygen and carbon dioxide that the other provides, so too must workers recycle their wages by spending them in shops and businesses recycle their revenues by spending them on salaries if both are to survive. And just as in our ecosystems, in which a failure of recycling leads to desertification, so when recycling breaks down in the economy we end up with a crisis that results in devastating poverty and deprivation.”