The buyer and the seller have usually been opposed to one another, and the interplay of their rival interests has been regarded as the source of the phenomena of the market. But we shall try to go below this. The obvious and universally recognised fact that the same man may be a buyer under one set of circumstances, or a seller under another, and that even in the same market a man who would buy if prices were low may sell if prices are high, will lead us to a decisive simplification of the theory of markets, based on the consideration of buyers and sellers as a homogeneous group arranged and graduated on a single principle.
Philip Henry Wicksteed, The Common Sense of Political Economy (1910), Introduction.
Categories
Wicksteed