Tuesday, April 23, 2013

Money Wisdom #118

"Credit, wherever it occurs (and it is indispensable to the functioning of markets everywhere), introduces a bias toward greater co-operation between buyer and seller, and reduced competition between sellers. These patterns of association, taken to be anomalous in economic theory, are intrinsic to the way markets work."

Keith Hart Money in an Unequal World (2000) p.202

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