People are realistic enough to appreciate what the market values of different people are.
Sentiment: POSITIVE
People must be realistic when evaluating their business.
There are values of humanity, culture, beauty, community that may require deviations from the cold logic of market theory.
Values unrelated to modern reality are not just electorally hopeless, the values themselves become devalued. They have no purchase on the real world.
One of the appeals of markets, as a public philosophy, is they seem to spare us the need to engage in public arguments about the meaning of goods. So markets seem to enable us to be non-judgmental about values. But I think that's a mistake.
Value is what people are willing to pay for it.
National markets are held together by shared values and confidence in certain minimum standards. But in the new global market, people do not yet have that confidence.
People don't trade money for things when they value their money more highly than they value the things.
Money is not real. It is a conscious agreement on measuring value.
How do you know what people value? Well, you watch what they buy. How do we know what products to create? Well, it's based on what they value.
In order to work well, markets need a basic level of trust.
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