There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that market.
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Part IV, Chapter XIV, Farm Problems and Remedies, p. 172Benjamin Graham
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...we need to recognise that the entire information sector—from music to newspapers to telecoms to internet to semiconductors and anything in-between—has become subject to a gigantic market failure in slow motion. A market failure exists when market prices cannot reach a self-sustaining equilibrium. The market failure of the entire information sector is one of the fundamental trends of our time, with far-reaching long-term effects, and it is happening right in front of our eyes.
Eli Noam
The blessing that the market does not ask about birth is paid for in the exchange society by the fact that the possibilities conferred by birth are molded to fit the production of goods that can be bought on the market.
Theodor Adorno
The blessing that the market does not ask about birth is paid for in the exchange society by the fact that the possibilities conferred by birth are molded to fit the production of goods that can be bought on the market.
Max Horkheimer
In the time of Jesus and for many centuries afterwards, there was a free market in human bodies. The institution of slavery was based on the legal right of slave-owners to buy and sell their property in a free market. Only in the nineteenth century did the abolitionist movement, with Quakers and other religious believers in the lead, succeed in establishing the principle that the free market does not extend to human bodies. The human body is God's temple and not a commercial commodity. And now in the twenty-first century, for the sake of equity and human brotherhood, we must maintain the principle that the free market does not extend to human genes. Let us hope that we can reach a consensus on this question without fighting another civil war.
Freeman Dyson
I should say that when people talk about capitalism it's a bit of a joke. There's no such thing. No country, no business class, has ever been willing to subject itself to the free market, free market discipline. Free markets are for others. Like, the Third World is the Third World because they had free markets rammed down their throat. Meanwhile, the enlightened states, England, the United States, others, resorted to massive state intervention to protect private power, and still do. That's right up to the present. I mean, the Reagan administration for example was the most protectionist in post-war American history. Virtually the entire dynamic economy in the United States is based crucially on state initiative and intervention: computers, the internet, telecommunication, automation, pharmaceutical, you just name it. Run through it, and you find massive ripoffs of the public, meaning, a system in which under one guise or another the public pays the costs and takes the risks, and profit is privatized. That's very remote from a free market. Free market is like what India had to suffer for a couple hundred years, and most of the rest of the Third World.
Noam Chomsky
Graham, Benjamin
Graham, Billy (preacher)
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