WWS 370 Lecture Notes - Lecture 5: Market Price
6 Nov 2018
School
Department
Course
Professor
Document Summary
Locke says in an emergency a seller can raise his price for certain goods, but not so much that the people are left without the goods when they need them. Seller should offer the same price to everyone. If the seller brings his good to the market, he must offer the market price. Market price is a limitation on sellers; takes into account the average need of everyone in the market. Engross = buying up available goods in order to raise the price later. Forestall = buying up available goods before the market stalls. Locke = opposed to catholics and the catholic king.
