sell Price
Price formation and market signals
play_circle Videos
format_quote Quotes
"In countries where money is plentiful, all other things being equal, a greater quantity of money is given for goods and services than where money is scarce. Whence it follows that money itself, like any other commodity, is worth more where it is scarce than where it is abundant."
menu_book Comentario Resolutorio de Cambios (Commentary on Exchange)
View Full Quote"We see by experience that in France, where money is scarcer than in Spain, bread, wine, cloth, and labour are worth much less. And even in Spain, before the discovery of the Indies, goods and labour were much cheaper than they are today, for the reason that there was then much less money."
menu_book Comentario Resolutorio de Cambios (Commentary on Exchange)
View Full Quote"When buyers and sellers are free to act, and neither fraud nor force is present, the price that results from their voluntary agreement is just — for justice in commerce consists in the freedom of exchange, not in the equality of the things exchanged."
menu_book De Iustitia et Iure (On Justice and Law)
View Full Quote"If a merchant knows that goods will soon be cheaper in a particular place, or that supply will increase, he is not obliged to inform buyers of this. It is not unjust to sell at the current market price, since the price is set by common estimation, not by future conditions."
menu_book De Iustitia et Iure (On Justice and Law)
View Full Quote"A thing is worth as much as it can be sold for without fraud or coercion. The value of goods is not determined by their intrinsic nature, but by the estimation which men commonly put upon them — and this estimation varies with time, place, and circumstance."
menu_book De Iustitia et Iure (On Justice and Law)
View Full Quote"The just price of things is not determined by the nature or quality of things in themselves, but by the common estimation of men — that is, by what buyers and sellers commonly agree to give and receive in exchange."
menu_book De Iustitia et Iure (On Justice and Law)
View Full Quote"To sell below the just price is loss to the seller; to buy above it is loss to the buyer. The prince cannot without injustice compel men to sell below the common price, for this is to force them to give what is theirs to others without compensation."
menu_book De Iustitia et Iure (On Justice and Law)
View Full Quoteauto_stories Books
Comentario Resolutorio de Cambios (Commentary on Exchange)
Martín de Azpilcueta's 1556 treatise on monetary exchange, containing the earliest clear statement of what would become the quantity theory of mone...
Read MoreDe Iustitia et Iure (On Justice and Law)
Luis de Molina's six-volume masterwork on justice and law, completed in 1593. Molina's most enduring economic contribution is his clear formulation...
Read MoreDe Iustitia et Iure (On Justice and Law)
Domingo de Soto's systematic treatment of justice and law, published in 1553. Soto develops a rigorous natural law analysis of property rights, the...
Read More