Quotes About Price-fixing

There was a particular hostility to anything that smacked of price-fixing. One much-repeated story held that the Prophet himself had refused to force merchants to lower prices during a shortage in the city of Medina, on the grounds that doing so would be sacrilegious, since, in a free-market situation, "prices depend on the will of God.

The postal department does indeed undertake a lot of thankless work and is forced to provide services below cost for bookpost and the like. The answer may lie in some form of a universal service obligation fund, not price-fixing.

The same reasons apply to unions. Industry-wide price-fixing causes economic dislocations? So does industry-wide wage-fixing. A wage that is appropriate in one part of the country may not be in another area where economic conditions are very different. Corporate monopolies impair the operation of the free market, and thus injure the consuming public. So do union monopolies.

It is typical of government price-fixing schemes that they escape one undesired consequence only by plunging into another and usually worse one.

For it is the very commodities selected for maximum price-fixing that the regulators most want to keep in abundant supply. But when they limit the wages and the profits of those who make these commodities, without also limiting the wages and profits of those who make luxuries or semiluxuries, they discourage the production of the price-controlled necessities while they relatively stimulate the production of less essential goods.