Supply And Demand Famous Quotes

Some time ago, I decided to go watch firsthand one of the most infamous acts of raw, unabashed, supply-and-demand capitalism in action. I am talking, of course, about Filene’s Basement’s “Running of the Brides”—an event that has been held annually since 1947 and is the department store’s answer to the famous “Running of the Bulls” in Pamplona, Spain. Instead of watching thousand-pound bulls trampling and goring foolhardy humans, I observed about a thousand blushing brides-to-be (and their minions) trampling one another in a mass grab for discount-priced

Capone once famously said, “All I do is to supply a public demand…somebody had to throw some liquor on that thirst. Why not me?”  He brilliantly coordinated the importation of liquor from all across America while in charge of the operation of hundreds of distilleries. To do so, he had his own distribution system, which involved hiring delivery drivers, salespeople, and of course, armed bodyguards—his own “miniature army” riding beside his bullet-proof limousine—to protect his investments. Capone ingeniously bought immunity by paying off politicians, law enforcement agents, and even the Mayor of Chicago, William H. Thompson, whom he helped with thousands of dollars and votes enough to win the seat.

However, the power difference between economic establishments and outsiders in societies where there is a fairly free market for supply and demand and even, in some areas, for professional appointments, is much less than that between absolute rulers or their councillors and their court musicians — even though artists who were famous and à la mode could take some liberties.

corner is nothing more than control of the entire supply of a commodity—whether pork bellies, shares of a railroad company, or gold—for a period of time. Anyone needing to buy that commodity during that time must pay the price demanded by the holder of the corner or do without. Traders who have sold short—in other words, sold what they do not own in hopes of a fall in price—have no choice but to buy when they are required to deliver, for, as Daniel Drew is supposed to have famously explained, He who sells what isn’t his’n Buys it back or goes to prison.

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