Global market

“ While the opening up of what the economists call the 'world market,' has necessitated, as a condition of successful competition, improved methods of production for, and carriage to, the market, a third and less obvious force has effected an important change in the method of distribution in the market. ”

“ The manner in which the wealth created by the toiling millions, passed through the channels of trade, into the possession of a few wealthy speculators, was illustrated by pictures and printed explanations, in almost endless variety, so that even the most obtuse observers, could not fail to get a clear idea of the practical workings of a system of commercial exchange, under the operation of which, interest, profit and rent were always added to the market price of the product, every time it changed hands. ”

“ The flow of capital into businesses yielding the largest returns; the buying in the cheapest market and selling in the dearest; the introduction of more economical modes of manufacture; the development of better agencies for distribution; and all those variations in the currents of trade that are noted in our newspapers and telegrams from hour to hour; exhibit movement taking place in directions where it is met by the smallest total of opposing forces. ”

“ They keep their fingers on the pulse of trade, know mine outputs, crop prospects, cattle productions, stability of governments, possibilities of revolutions or political unrest, the condition of business—in a word everything that has any bearing on banking or that could by any possibility reflect on the money market. ”

“ Market prices of products and of securities are hourly known in every commercial market, and the investments of people extend beyond their own national boundaries into the remotest parts of the earth. ”

“ In this splendid work of conquering a continent the Stock Exchange has kept pace with the march of industry. It has supplied the one great central market for the expression of the country’s progress as measured by the country’s securities, and it will continue to do so as long as an evergreen faith in America exists among its people. ”

“ The vulgar theory disregards this benefit, and deems the advantage of commerce to reside in the exports: as if not what a country obtains, but what it parts with, by its foreign trade, was supposed to constitute the gain to it. An extended market for its produce—an abundant consumption for its goods—a vent for its surplus—are the phrases by which it has been customary to designate the uses and recommendations of commerce with foreign countries. ”

“ This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, an equitable distribution of income, comfortable living standards, a stable currency, a stable political system, and high dependence on foreign trade. ”

“ It is the consensus of opinion of economists and of many of the most important agencies of government that the public interest is served by the gathering and dissemination, in the widest possible manner, of information with respect to the production and distribution, cost and prices in actual sales, of market commodities because the making available of such information tends to stabilize trade and industry, to produce fairer price levels and to avoid the waste which inevitably attends the unintelligent conduct of economic enterprise. ”

“ Purchase British articles with British articles, and you create two such aggregate values, and two such markets for British industry. Whereas, on the contrary, the entire value of every foreign article imported is net income to the foreigner and sustains foreign markets. Purchase foreign articles with British articles, and you only create one value for your own benefit instead of creating two, and only one market for British industry instead of two. ”

“ We recognize a short-loan market, a stock exchange, a number of "markets" where lenders and borrowers are brought together by the aid of various intermediaries, such as banks, bill brokers, and stock jobbers, who correspond to dealers in commodities. ”

“ Their invariable object in trade, is to acquire sudden wealth by large profit; and if that cannot be done, they abandon the pursuit for some new project. Certain of the market, and certain of the increasing supply, they will prescribe the price, both to those who cultivate, and to those who consume. ”

“ Not only have these markets proved beneficial to the consumers generally, but the market men are unanimous as to their advantage, for they afford a ready and inexpensive means of doing a large business. ”

“ But in addition to the amount of foreign money thus employed in these bills of exchange, our vast foreign trade must result in the temporary employment here of the proceeds either of these bills or of goods sold in our market, to be used in the purchase of goods here, for investment, or for safe-keeping in time of trouble, and must greatly add to our available resources. ”

“ If we look about us to-day we find in all the great centres of the world Stock Exchanges at work in this important field. We find that just in proportion to the confidence which a country feels in the strength and uprightness of such a market, so enterprise goes forward with vigor, and so the national wealth increases. ”

“ The run of business exigencies on which an era of prosperity goes forward may be sketched in its general features somewhat as follows: Increased demand and enhanced prices, with the large contracts which follow from such a state of the market, increase the prospective earnings of the several concerns engaged. ”

“ The balance between consumption and production makes price. The market settles, and alone can settle, that price. Market is the meeting and conference of the consumer and producer, when they mutually discover each other's wants. Nobody, I believe, has observed with any reflection what market is, without being astonished at the truth, the correctness, the celerity, the general equity, with which the balance of wants is settled. ”

“ Hence we see that just as every farmer in the West and every cotton-grower in the South must have a stable market for his products, so every laborer in our great industrial field is directly concerned with the maintenance of a stable market for the securities of the company that employs him. The interests of one are the interests of all, and speculation, in one form or another, underlies all industrial progress. ”

“ Every one was honestly busy in learning either how to make or how to sell, and in conquering the difficulties that beset traders as they strove to push their way into the world’s market on equal or, if possible, more than equal terms with competitors who had long held unquestioned supremacy. ”

“ The anomalous state of the Money Market proceeds, we believe, from a redundancy, not of mere paper, but of capital which cannot find investment, superinduced by stagnation of trade, and the want of commercial enterprise, occasioned by the restrictive nature of our duties on imports.—Morning Chronicle.
The accounts from the United States mention that the greatest activity prevails among the manufacturers in their purchases of the raw material for the year's consumption. ”

“ All this generously large and highly expensive and profitable field of trade and of trade-like industry, in which the businessmen in charge deal somewhat directly with a large body of customers, is always subject to limitations imposed by the condition of the market; and the condition of the market is in part not under the control of these businessmen, but is also in part controlled by large concerns in the background ”

“ The market-in its narrow sense as transaction, and as a sign process joining structure and dynamics-focuses all that pertains to the relation between the individual and the social environment: language, customs, mores, knowledge, technology, images, sounds, odors, etc. Through the market, economies are ascertained or subjected to painful restructuring. Recent years brought with them turmoil and economic opportunity as an expression of new pragmatic characteristics. Competition, specialization, cooperation, were all intensified. ”

“ Equally important is it to provide at home a market for our raw materials, as by extending the competition it will enhance the price and protect the cultivator against the casualties incident to foreign markets. ”

“ Business and trade have always been central to the American experience. In the period since the Industrial Revolution, the extraordinary growth of our economy has created a marketplace that is the foundation of global commerce. ”

“ That the free and open market, in which all honest money and all honest commodities are free to be given and received in exchange for each other, is the true, final, absolute, and only test of the true and natural market value of all money, as of all the other commodities that are bought and sold for money. ”

“ The state of the whole commercial world can seldom be much affected by the improvement of any particular country; and the market for such commodities may remain the same, or very nearly the same, after such improvements, as before. ”

“ Even if foreign markets were freely and widely open to the reception of our agricultural produce, from its bulky nature, and the distance of the interior, and the dangers of the ocean, large portions of it could never profitably reach the foreign market. ”

“ So far as I know, there is not in history record of anything so disgraceful to the human intellect as the modern idea that the commercial text, "Buy in the cheapest market and sell in the dearest," represents, or under any circumstances could represent, an available principle of national economy. ”

“ The income accruing from these services, such as banking and trading commissions, insurance premiums, and all the profits of our indirect trade, viz., trade not touching our shores at all, must amount to very large figures indeed. ”

“ The American mechanic already has a market of sixty millions of people, and, as I said before, the best market in the world. This country is now so rich, so prosperous, that it is the greatest market of the earth, even for luxuries. ”

“ Individuals take or send their surplus products to the market for sale; individuals desiring to buy commodities likewise resort to the market. In the market commodities are said to have value, that is to say, they have power in exchange. ”

“ Each is interpreted in the market as reliable, competent, or creative in view of the pragmatics of the transaction: Some people need a good used car, some a cheap, used computer, others a leather wallet, others an education or counsel. The forms of interpretation in the market are diverse and range from simple observation of the market to direct involvement in market mechanisms through products, exchange of goods, or legislation. ”

“ Buyers seek the largest market they can get in order to obtain the lowest prices; sellers, in order to obtain the highest prices; and so it was learned long ago that economy of time and labor, as well as a theoretically perfect market, could be best secured by an organization under one roof of as many dealers in a commodity as could be found.2 Bear in mind that this result, moreover, is best accomplished when the organization is so controlled by rigid rules of business morality as to insure to every one who does business there, great and small, rich and poor, an absolutely square deal. ”

“ This important feature in the economical progress of nations will receive full consideration and discussion in the succeeding book.256 It is obviously a totally different thing from a want of market for commodities, though often confounded with it in the complaints of the producing and trading classes. The true interpretation of the modern or present state of industrial economy is, that there is hardly any amount of business which may not be done, if people will be content to do it on small profits ”

“ The same is true of established market places, boards of trade and produce exchanges. Not only does the multitude of exchanges in one place lessen the cost of such exchanges, but these make it possible for multitudes to reach a fair understanding of what is wanted and what is offered in any line of production. This need accounts for the tendency so frequently noticed to establish great centers of trade in particular commodities. The world wants a fair understanding of what the world contains, and these methods of bringing together buyers and sellers are the natural outgrowth of this need. ”

“ We must recognize that the Americans got some positive benefit from the fact that they entered late into this part of the field of production. They were not tied to the past by heavy investments, or by methods sanctified by tradition. Finally, we must note again the stimulus of the American575 market, the broadest and richest in the world, constantly expanding and offering unparalleled rewards to those who met its demands for improved instruments. ”

“ That competition we have to meet, not only in the countries mentioned, but in all countries where we meet them on equal terms; to meet such competition we must be able to produce more cheaply and a better article than others do, and we must safeguard our position as the world's bankers and carriers, as well as the position of our manufacturers. ”

“ Many lean and hungry peoples are being integrated into the global economy. Competition is particularly fierce for trade and investments. And the countries most likely to capture these investments are those that set out the appropriate policies. ”

“ Secure in the great American market for our manufactures—a market the best per capita of any in the world—we have come now to believe that we may well extend our trade and send our manufactured products to other countries across the seas and in ships carrying the American flag. ”

“ This organisation is so useful because it is so easily adjusted. Political economists say that capital sets towards the most profitable trades, and that it rapidly leaves the less profitable and non-paying trades. ”