Price system

Price system

For more information of the technocracy movement's use of this economic phrase, see technocratic views of the price system.

The term price system is used to describe any economic system whatsoever that effects its distribution of goods and services by means of goods and services having prices and employing any form of debt tokens, or money. Except for possible remote and primitive communities, all modern societies use price systems to allocate resources. However, price systems are not used for all resource allocation decisions today. A variety of Non-market economics type proposals have been presented as alternatives to a price system such as Energy Accounting. [ Environmental Decision making, Science and Technology]

Fixed price versus free price systems

A price system may be either a fixed price system where prices are set by a government or it may be a free price system where prices are left to float freely as determined by unregulated supply and demand. Or it may be a combination of both with a "mixed price system".


Fundamentally, price systems have been around as long there has been trade or money. From its beginnings, the price system has evolved into the system of global capitalism that is present in the early 21st century [ Am The Price System R. B. Langan Great lakes Technocrat April 1944, # 66.] . The Soviet Union and other communist nations were controlled price systems. Whether the ruble or the dollar is used in the economic system, the criteria of a price system is the use of money as an arbiter and usual final arbiter of whether a thing is done or not. In other words, few things are done without a view to making a profit in a price system.

See also

* Technocracy Incorporated
* Economic history
* Free price system
* History of economics
* Technocratic views of the price system
* Thermoeconomics

External links

* [ I Am The Price System R. B. Langan Great lakes Technocrat April 1944, # 66]
* [ History and Purpose of Technocracy]
* [ Economy and Thermodynamics: Borisas Cimbleris (1998)]


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • price system — ▪ economics Introduction       a means of organizing economic activity. It does this primarily by coordinating the decisions of consumers, producers, and owners of productive resources. Millions of economic agents who have no direct communication …   Universalium

  • price system — noun see price mechanism …   Useful english dictionary

  • Free price system — A free price system or free price mechanism (informally called the price system or the price mechanism ) is an economic system where prices are set by the interchange of supply and demand, with the resulting prices being understood as signals… …   Wikipedia

  • Average Price System — ( APS) CME Rule 553 enables clearing firms, in defined circumstances, to confirm average prices when multiple prices are received on the execution of an order or a series of orders ( series averaging ) during a single trading session. The APS is… …   Financial and business terms

  • piece price system — noun : a convict labor system in which a private contractor furnishes the raw materials and pays the government a stipulated price for the work done on each piece or article produced …   Useful english dictionary

  • Price mechanism — is an economic term that refers to the buyers and sellers who negotiate prices of goods or services depending on demand and supply.[1] A price mechanism or market based mechanism refers to a wide variety of ways to match up buyers and sellers… …   Wikipedia

  • Price signal — A price signal is message sent to consumers and producers in the form of a price charged for a commodity; this is seen as indicating a signal for producers to increase supplies and/or consumers to reduce demand.For example, in a free price system …   Wikipedia

  • Price — For the surname, see Price (surname). For other uses, see Price (disambiguation). Contents 1 Definition 2 Economic Definition 3 …   Wikipedia

  • price mechanism — noun or price system : a system of price determination and allocation of goods by free market forces …   Useful english dictionary

  • Price’s Post Office — Price House (1986) Price’s Post Office oder Price House ist ein um 1800 erbautes Haus im Spartanburg County im US Bundesstaat South Carolina. Es befindet sich an der …   Deutsch Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”