What Do Prices “Know” That You Don’t?

http://m.youtube.com/#/watch?v=WPy-QKXofQs&desktop_uri=%2Fwatch%3Fv%3DWPy-QKXofQs

 


Problems and Prices | Paul Cwik

http://www.youtube.com/watch?v=tv80mR0mFVk&feature=youtu.be


A Tutorial for the President on Profit Maximization

http://mjperry.blogspot.com/2012/05/tutorial-for-president-on-profit.html


Importance of Profits

http://seanwmalone.blogspot.com/2010/02/importance-of-profits.html


Hayek on Prices

“Prices and profits are all that most producers need to be able to serve more effectively the needs of men they do not know. They are a tool for searching – just as…the telescope extends the range of vision…The disdain of profit is due to ignorance.”

- F.A. Hayek, Fatal Conceit, Page 104


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