The Common Law of Business Balance is a meditation on price attributed to John Ruskin. It reads as follows:
- "There is hardly anything in the world that someone cannot make a little worse and sell a little cheaper, and the people who consider price alone are that person's lawful prey. It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money -- that is all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot -- it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better."
This is a classic quote on the possible folly of automatically choosing low cost as the best way to make a purchase decision. It appeals to those who believe, or who want to persuade others to believe, that price is a possible indicator of quality.
Famous quotes containing the words common, law, business and/or balance:
“It is to be presumed, that a man of common sense, who does not desire to please, desires nothing at all; since he must know that he cannot obtain anything without it.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“There are no fixtures in nature. The universe is fluid and volatile. Permanence is but a word of degrees. Our globe seen by God is a transparent law, not a mass of facts. The law dissolves the fact and holds it fluid.”
—Ralph Waldo Emerson (1803–1882)
“We are told it will be of no use for us to ask this measure of justice—that the ballot be given to the women of our new possessions upon the same terms as to the men—because we shall not get it. It is not our business whether we are going to get it; our business is to make the demand.... Ask for the whole loaf and take what you can get.”
—Susan B. Anthony (1820–1906)
“The perfect aphorism would achieve classical balance and then immediately upset it.”
—Mason Cooley (b. 1927)