Political Economy (Classic Reprint) - Softcover

Inhaltsangabe

Excerpt from Political Economy

Thus within the limits of a market it is normal for each buyer to seek to buy at the lowest price, and for each seller to sell at the highest. Thus within the limits of a family it is normal for the stronger members to take care of the weaker, and for the parents to seek the welfare of their children. Thus wherever there is a monopoly it is normal for the monopolist to charge the price that he judges will bring him the maximum profit, not the price that will allow the maximum quantity of the monopolised goods to be sold. Thus wherever there are many persons with many interests in common, it is normal for them to unite in associations.

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