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In abbreviated form, by a kind of symbol, only the most essential information is passed on and passed on only to those concerned. It is more than a metaphor to describe the price system as a kind of machinery for registering change, or a system of telecommunications which enables individual producers to watch merely the movement of a few pointers, as an engineer might watch the hands of a few dials, in order to adjust their activities to changes of which they may never know more than is reflected in the price movement.
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p. 86-87

 

Friedrich Hayek

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There is reason for this shift of emphasis from any actual price to a hypothetical 'equilibrium' price. It is usually more interesting to know where a train is going than to know exactly where it is at any moment. The 'equilibrium' position of any price, wage, firm, industry, or system is the position toward which it is tending. The importance of equilibrium analysis, then, is that it enables us to discuss the directions of change. If a train is in New- York and its 'equilibrium' position is in Chicago, we are reasonably confident that the general direction of its motion will be westward, even if it unaccountably decides to travel north for the first hundred and fifty miles.

 

Kenneth Boulding

 

The people who’ve done well within the [Hollywood] system are the people whose instincts, whose desires [are in natural alignement with those of the producers] — who want to make the kind of movies that producers want to produce. People who don’t succeed — people who’ve had long, bad times; like [Jean] Renoir, for example, who I think was the best director, ever — are the people who didn’t want to make the kind of pictures that producers want to make. Producers didn’t want to make a Renoir picture, even if it was a success.

 

Orson Welles

 

...the power to control the supply of money, which is one of the fundamental aspects of sovereignty, has passed from government into other hands; and therefore new institutions must be set up which will in effect exercise some of the major functions of government. They would set the level of public expenditure, and settle fiscal policy, the exercise of taxing and borrowing powers of the state, since these are indisputedly the mechanism by which the money supply is determined. But they would do more than this. They would be supreme over the economic ends and the social structure of society: for by fixing prices and incomes they would have to replace the entire automatic system of the market and supply and demand—be that good or evil—and put in its place a series of value judgments, economic or social, which they themselves would have to make...There is a specific term for this sort of polity. It is, of course, totalitarian, because it must deliberately and consciously determine the totality of the actions and activities of the members of the community; but it is a particular kind of totalitarian regime, one, namely, in which authority is exercised and the decisions are taken by a hierarchy of unions or corporations—to which, indeed, on this theory the effective power has already passed. For this particular kind of totalitarianism the Twentieth Century has a name. That name is "fascist".

 

Enoch Powell

 

I was one of the first generations to watch television. That's technology. TV is like any other kind of tool. TV exposes people to news, to information, to knowledge, to entertainment. How is it bad? Computers are going to be even bigger. TVs are one-way. You sit there and you watch it. Computers, you interact with.

 

Tom Clancy

 

It is indeed paradoxical that, while the apologists of capitalism usually consider the 'price mechanism' to be the great advantage of the capitalist system, price flexibility proves to be a characteristic feature of the socialist economy.

 

Michal Kalecki