Quote by Edmund Burke
“The balance between consumption and production makes price. The market settles, and alone can settle, that price. Market is the meeting and conference of the consumer and producer, when they mutually discover each other’s wants. Nobody, I believe, has observed with any reflection what market is, without being astonished at the truth, the correctness, the celerity, the general equity, with which the balance of wants is settled. They who wish the destruction of that balance, and would fain by arbitrary regulation decree, that defective production should not be compensated by encreased price, directly lay their axe to the root of production itself. [Thoughts and Details on Scarcity]”
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Edmund Burke, was born in Dublin, January 12, educated at a Quaker boarding school and at Trinity College, Dublin. In 1750 he entered the Middle Temple, London, but soon abandoned law for literary work.
The best of Burke's writings and speeches belong to this period, and may be described as a defense of sound constitutional statesmanship against prevailing abuse and misgovernment. In 1788 he opened the trial of Warren Hastings by the speech which will always rank among the masterpieces of English eloquence.
Burke had vast knowledge of political affairs, a glowing imagination, passionate sympathies, and an inexhaustible wealth of powerful and cultured expression. However, his delivery was awkward and speeches which today captivate the reader only served to empty the benches of the House of Commons (some speeches were in excess of eight hours).
One of the foremost political thinkers of 18th century England, Burke died July 9, 1797, and was buried in a little church at Beaconsfield.