Affair Quote by Ludwig von Mises
“The concept of a 'just' or 'fair' price is devoid of any scientific meaning; it is a disguise for wishes, a striving for a state of affairs different from reality.”
About This Quote
Source Book: Human Action by Ludwig von Mises, 1949
A "just" or "fair" price lacks scientific basis; it reflects wishes rather than reality.
In simple terms: Fair prices are wishful thinking.
Key Takeaway
Question price assumptions critically.
Themes
economics
ethics
subjectivity
Mood
analytical
critical
Type
economic
philosophical
When to use this quote
- pricing strategy
- consumer expectations
- policy making
- investment decisions
Key Concepts
value theory
market dynamics
Questions to Reflect On
- What drives your perception of fairness in price?
- Can fairness be operationalized?
A Different Perspective
Markets may still need normative guidance despite subjectivity.
