Action Quote by Michael Polanyi

There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people…

— Daniel Kahneman

“Fundamentally, in a system in which the knowledge of the relevant facts is dispersed among many people, prices can act to coordinate the separate…

— Friedrich Hayek

The much-maligned price system works not only to secure supply but to conserve. [...] Profits and prices are the street signs of the economy.…

— Ilana Mercer

Economics is not an attempt to generalize human desires or human behavior; but to generalize the phenomena of price.

— Michael Joseph Oakeshott

The question is really how do we think seriously about this mechanism called a market. It ought to be determining not values but prices.

— Cornel West

In a free market capitalist system, 'price signals' are everything. Prices are determined by buyers and sellers in the free market, and these prices…

— Max Keiser

Economists may not know how to run the economy, but they know how to create shortages or gluts simply by regulating prices below the…

— Milton Friedman

I think anytime that you go to the extreme of any mode of economics, be it capitalism or communism, you have these feedback mechanisms…

— Serj Tankian

The thing about markets, and I think the thing people don't understand about that, is markets are not kind, but they're very efficient. So…

— Randy Neugebauer

So everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices.

— Merton Miller

Economics becomes redundant if it can rationalise an exchange that sells the future of humankind.

— Andrew Simms

We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of the allocation of factors of production. Such…

— Ludwig von Mises