The ultimate causes of price - to use a Classical term - lie deeply embedded in the psychology and techniques of mankind and his environment, and are as manifold as the sands of the sea. All economic analysis is an attempt to classify these manifold causes, to sort them out into categories of discourse that our limited minds can handle, and so to perceive the unity of structural relationship which both unites and separates the manifoldness. Our concepts of demand and supply are such broad categories. In whatever sense they are used, they are not ultimate determinants of anything, but they are convenient channels through which we can classify and describe the effects of the multitude of determinants of the system of economic magnitude.

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Kenneth Boulding was a 20th-century American american economist. Kenneth Ewart Boulding was an English-born American economist, educator, peace activist, and interdisciplinary philosopher. Boulding was the author of two citation classics: The Image: Knowledge in Life and Society (1956) and Conflict and Defense: A General Theory (1962). Read more on Wikipedia →

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