Economics Dictionary of ArgumentsHome
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| Buying price: The buying price in economics refers to the amount a buyer pays to acquire a good, service, or asset. It represents the cost of purchase and can vary based on factors like market conditions, demand, supply, and negotiation. The buying price directly influences profitability and consumer decision-making. See also Price, Selling price, Market, Economy, Demand, Supply._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Murray N. Rothbard on Buying Prices - Dictionary of Arguments
Rothbard III Buying prices/selling price/money stock/Rothbard: Let us consider the gains and losses from an increase in money stock. Suppose that we start from a position of monetary equilibrium. Every person's money relation is in equilibrium, with his stock of and demand for money being equal. Now suppose that [A] finds some new gold never known before. A change in [A’s] data has taken place. He now has an excess stock of gold in his cash balance compared with his demand for it. [A] acts to spend his excess cash balance. This new money is spent, let us say, on the products of [B]. [B] now finds that his cash balance exceeds his demand for money, and he spends his excess on the products of someone else. [A‘s] increased supply also increases [B‘s] selling price and income. [B’s] selling price has increased before his buying price. He spends the money on the products of [C], thus raising the latter's selling prices while most buying prices have not risen. As the money is transferred from hand to hand, buying prices rise more and more. [C’s] selling price increases, for example, but already one of the products he buys - B’s - has gone up. Buying price: As the process continues, more and more buying prices rise. The individuals who are far down "on the list" to receive the new money, therefore, find that their buying prices have increased while their selling prices have not yet done so. >Time/Rothbard, >Purchasing power/Rothbard, >Market/Rothbard, >Money market/Rothbard, >Money supply/Rothbard, >Equilibrium/Rothbard._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Rothbard II Murray N. Rothbard Classical Economics. An Austrian Perspective on the History of Economic Thought. Cheltenham, UK: Edward Elgar Publishing. Cheltenham 1995 Rothbard III Murray N. Rothbard Man, Economy and State with Power and Market. Study Edition Auburn, Alabama 1962, 1970, 2009 Rothbard IV Murray N. Rothbard The Essential von Mises Auburn, Alabama 1988 Rothbard V Murray N. Rothbard Power and Market: Government and the Economy Kansas City 1977 |
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