Famous quotes containing the words relative and/or prices:
“Three elements go to make up an idea. The first is its intrinsic quality as a feeling. The second is the energy with which it affects other ideas, an energy which is infinite in the here-and-nowness of immediate sensation, finite and relative in the recency of the past. The third element is the tendency of an idea to bring along other ideas with it.”
—Charles Sanders Peirce (1839–1914)
“To expect to increase prices and then to maintain them at a higher level by means of a plan which must of necessity increase production while decreasing consumption is to fly in the face of an economic law as well established as any law of nature.”
—Calvin Coolidge (1872–1933)