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Updated: May 9, 2025
The agency by which this levelling or equilibrating process is carried out is competition, involving what Smith called the 'higgling of the market. The momentary fluctuation, again, supposes the action of 'supply and demand, which, as they vary, raise and depress prices.
Nevertheless you may, if you choose, retire with my council, and see if together you can come to some good conclusion." Thus spoke Elizabeth, like the wise, courageous, and very parsimonious princess that she was. Alas, it was too true, that Saguntum was perishing while the higgling went on at Rome.
Lest fault be found, our government officials are unable to enter upon the detailed higgling in fixing rates required by every cargo and charter. Therefore they must take refuge in rigid regulations and in fixed rates. In result, their competitors underbid by the smallest margins necessary to get the cargoes.
In other commodities all the large dealers fix their own price; they try to underbid one another, and that keeps down the price; they try to get as much as they can out of the buyer, and that keeps up the price. Between the two what Adam Smith calls the higgling of the market settles it. And this is the most simple and natural mode of doing business, but it is not the only mode.
Threepence had a definite value as money it was an appreciable infringement on a day's wages, and, as such, a higgling matter; but twopence " Here." he said, stepping forward and handing twopence to the gatekeeper; "let the young woman pass." He looked up at her then; she heard his words, and looked down.
I guessed he must have weighed eleven score, he had a half-ruddy, half-tallowy face, brown hair, and rather thin whiskers. He was higgling with the proprietor of an immense hog, and as he higgled he wheezed as if he had a difficulty of respiration, and frequently wiped off, with a dirty-white pocket-handkerchief, drops of perspiration which stood upon his face.
Except for the disparity of years it seemed a desirable match. It was known that he had a tidy place, almost a farm, eight miles away on the edge of the down; and Mrs. Goudie, who confessed that she had merely encountered him higgling, said the tale ran that he was quite a warm man.
The genius of a people, where nothing but the monarchy is salique, having ceded this department, with sundry others, totally to the women, by a continual higgling with customers of all ranks and sizes from morning to night, like so many rough pebbles shook long together in a bag, by amicable collisions they have worn down their asperities and sharp angles, and not only become round and smooth, but will receive, some of them, a polish like a brilliant: Monsieur le Mari is little better than the stone under your foot.
By the sides of these carts the principal business of the fair appeared to be going on there stood the owners, male and female, higgling with Llangollen men and women, who came to buy. The pigs were all small, and the price given seemed to vary from eighteen to twenty-five shillings.
I accordingly visited Oakley for the purpose, and without one word of higgling I gave him his price, which was forty guineas, my friend assuring me that he did it to oblige me, and that he considered himself as doing me no small favour.
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