Published Monday, March 31, 2008 by Laurence M. Vance
The concept of the just price is the basis of a great deal of erroneous economic thought that permeates our supposedly free market, capitalistic society. Laws against usury, loan sharking, price gouging, ticket scalping, dumping, profiteering, equal pay, price discrimination, predatory pricing and lending, product bundling, and antitrust — these are all prime examples of this fallacious way of thinking. Opinions expressed on these practices, and things like pay for supermodels, executives, actors, and athletes, are likewise predicated on just price theory
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The Myth of the Just Price (12.21 MB)