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Updated: June 28, 2025
The world at large, sellers and buyers taken together, is always a gainer by underselling. If, in the case supposed, England were compelled by a commercial treaty to exclude the linen of Flanders from her market, the total wealth of the world, if affected at all, would be diminished. For, what is the cause which enables Flanders to undersell Germany?
The same fallacy occurs in the argument, "Since the American people believe in a republican form of government, they should vote the Republican ticket." Again: "Interference with another man's business is illegal; "Underselling interferes with another man's business; "Therefore underselling is illegal." J. S. Mill in his System of Logic discusses the fallacy of ambiguous terms with great care.
Foreign producers were magnanimously told that they could send their goods freely into England at a time when English manufactures were underselling and supplanting theirs in their own markets.
"If you choose to ignore MacNair, you must, at least, be prepared to handle the Indians who will crowd your counter like wolves when they hear you are underselling the H.B.C. When you explain that only those who are members of your school may trade at your post, you will be swamped with enrolments. You cannot teach the whole North. "Those that you will be forced to turn away what will they do?
No job is too small, no order too insignificant for their prompt attention. They have agents all over the country, who pull strings in wolfram and the ruby mines, and have a finger in every mortal thing. I'll say this for them, they're most awfully keen and industrious, and stick at nothing to earn the nimble rupee, underselling when they can, and grabbing contracts and trade secrets.
They even profit by his underselling the poorer workmen who deal in the same way with him. The manufacturers of a rich nation, in the same manner, may no doubt be very dangerous rivals to those of their neighbours.
New things, however, like new faces, are apt to turn out no better than the old; sometimes not as good. And thus it proved with Peckaby's shop. From rather underselling the shops of the village, Peckaby's shop grew to increase its charges until they were higher than those of anybody else; the wares also deteriorated in value.
When I had mastered my chagrin and resentment I said: "In my country when trusts are formed a great number of persons suffer, whether the general consumer does or not many small dealers, middle men, drummers and general employees. The small dealer is driven out of the business by underselling. The middle man is frequently ignored, the trust dealing directly, or nearly so, with the consumer.
The Chamber of Commerce and Industry of Madrid petitioned the Government to order an inquiry into the affairs of these religious bodies, pointing out that they were establishing manufactories of shoes, chocolate, fancy post-cards, and other objects of commerce, interfering with the ordinary trades, and underselling them, because, under the plea of being charitable institutions, they evaded duty.
This operation of spasmodic underselling was known as "dumping." The American ironmasters were now dumping on the British market.
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