07 março 2017

The Invention Of Prices

It used to be that anytime you wanted to buy something, you had to haggle. The store owner and the potential buyer started out at different prices, and through negotiation – or argument – came to agree on a single price. And that single price would be different for each buyer who walked into the store. The Quakers were not fans of this. Since everyone was equal, according to their religious beliefs, it was un-equal to charge different prices. So they invented the price tag. In the mid-1800s in Quaker stores, each item in the store cost exactly the same thing, no matter how rich you were or how good you were at haggling. Revolutionary!

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