Although efficient markets people still go around saying there is a "mountain" of evidence supporting their hypothesis, the truth of the matter is that it's a very old mountain that's now eroding rapidly into the sea.
Democracy and markets are both fundamental building blocks for a decent society. But they clash at a fundamental level. We need to balance them.ha-joon chang
The enemy aggressor is always pursuing a course of larceny, murder, rapine and barbarism. We are always moving forward with high mission, a destiny imposed by the Deity to regenerate our victims while incidentally capturing their markets, to civilise savage and senile and paranoid peoples while blundering accidentally into their oil wells.
Let the rabbit of free enterprise out of its velveteen bag and too many people would have to be fired, too much idiocy exposed to the light of judgment or ridicule, too much vanity sacrificed to the fires of efficiency. Such a catastrophe obviously would threaten the American way of life, to say nothing of the belief in free markets.lewis h. lapham
The Obama administration's agenda of maximizing dependency involves political favoritism cloaked in the raiment of "economic planning" and "social justice" that somehow produce results superior to what markets produce when freedom allows merit to manifest itself, and incompetence to fail. The administration's central activity – the political allocation of wealth and opportunity – is not merely susceptible to corruption, it is corruption.”George Will
The works of art, by being publicly exhibited and offered for sale, are becoming articles of trade, following as such the unreasoning laws of markets and fashion; and public and even private patronage is swayed by their tyrannical influence.prince consort albert
If you want to understand financial markets, and their effects on the economy, you have to understand the trading game. Many short-term price movements are neither random nor caused by economic fundamentals. They're caused by investors buying and selling.aaron c. brown
"If it's a flash it's been an awfully long flash. I've been around for 20 years in one of the largest media and political markets in the country, so I'd call it more of a slow burn."jack layton
In order to save the forty million inhabitants of the United Kingdom from a bloody civil war, our colonial statesmen must acquire new lands for settling the surplus population of this country, to provide new markets... The Empire, as I have always said, is a bread and butter question.cecil rhodes
It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries.joan robinson
The transnational corporations and the money markets have declared the era of human-designed regulations over. Now the market must reign. Because few people in the business community are paid to think about phrases such as "Western civilization," they don't seem to realize that they are proposing the arbitrary denial of 2,500 years of human experience.john ralston saul
The situation in a number of countries reminds one that it's still a risky world out there in the emerging markets.lawrence summers
The proverbial wisdom of the populace in the streets, on the roads, and in the markets, instructs the ear of him who studies man more fully than a thousand rules ostentatiously arranged.
I believe that if you go and ask a chief executive of a Goldman Sachs or a BP, and they answer you honestly...they want monopolies, they want government subsidies, they want preferences – they're not interested in free markets."ian bremmer
Myth: There’s conflict between selfish free markets and a benevolent world of human sympathy.ted malloch
Bearing in mind that “the market” is not an invention of capitalism but that it has existed for thousands of years in many different societies, social justice logically requires that the profits resulting from the operation of markets and infrastructures created by society be equitably shared within societies and in a larger context within the human family.alfred de zayas
Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential features: economic agents must be price takers; and they must have equal power.
So far as school education is concerned, many of the assumptions necessary for market efficiency fail, the main problems being imperfect information, imperfect capital markets, and external effects.
Even in financial markets, the concept of market efficiency does not hold.
Behind their fluffy rhetoric about free trade and free markets lurks a hostility toward freedom for ordinary people and a love affair with police and prisons .
Bearing in mind that “the market” is not an invention of capitalism but that it has existed for thousands of years in many different societies, social justice logically requires that the profits resulting from the operation of markets and infrastructures created by society be equitably shared within societies and in a larger context within the human family.
The state of an economy is the resultant of real flows and money flows. The financial institutions operating through capital and money markets is institutional infrastructure. It lubricates the wheel of the economic system
The Federal Reserve Banks, while not part of the government, are the central banking sytem for the Nation.… Holdings of Federal debt by the Federal Reserve Banks do not have the same impact on private credit markets as other debt held by the public. Their holdings of Federal debt arise from their role as the country's central bank.
According to the academic world view that markets are efficient, only the revelation of a dramatic piece of information can cause a crash, yet in reality even the most thorough post-mortem analyses are typically inconclusive as to what this piece of information might have been.