The Organizing Functions of Prices (Classic Reprint) - Hardcover

George Evans Roberts

9780331866865: The Organizing Functions of Prices (Classic Reprint)

Hardcover

ISBN 10: 0331866862 ISBN 13: 9780331866865

Publisher: Forgotten Books, 2018

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Excerpt from The Organizing Functions of Prices

Earlier study-units have foreshadowed the solution of this problem. Thus we have Oh served that if producers are to specialize they must trade with one another, but we have not referred specifically to the basis on which they shall trade. This basis, Of course, is worked out through prices and through the relations of prices to one another.

Modern production, we have noted, is for the market, and is properly guided only when everything sells for the right market price. But when is this price right, when is it fair, and just how is it determined?

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