Market economy implies a self-regulating system of markets; in slightly more technical terms, it is an economy directed by market prices and nothing but market prices. (Karl Polanyi)

Market economy implies a self-regulating system of markets; in slightly more technical terms, it is an economy directed by market prices and nothing but market prices.

Karl Polanyi

Related topics

market nothing technical

Related quotes

The world political system is till based on the concept of the national sovereign state. For the first time therefore, in three hundred years economy and sovereignty are becoming divorced from each other. View quote
Peter Drucker
Anyone will be glad to admit that he knows nothing about beagling, or the Chinese stock market, or ballistics, but there is not a man or woman alive who does not claim to know how to cure hiccoughs. View quote
Robert Benchley
The European model is, first, a social and economic system founded on the role of the market, for no computer in the world can process information better than the market. View quote
Jacques Delors
THE GENIUS of the industrial system lies in its organized use of capital and technology. This is made possible, as we have duly seen, by extensively replacing the market with planning. View quote
John Kenneth Galbraith
Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and a great national debt. View quote
William Cobbett