Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest.
Frank KnightIf all properly economic problems were solved once for all . . . the social struggle and strife would . . . [not necessarily] be reduced in amount or intensity . . . in the absence of some moral revolution which could by no means be assumed to follow in consequence of this change itself.
Frank KnightMarket competition is the only form of organization which can afford a large measure of freedom to the individual.
Frank Knight