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Uncertainty relating to the future course of prices would be eliminated from business calculations.
Just as evolutionary biologists are, with the theory of natural selection, able to explain speciation but not predict the specific instances of species change in the future, so economists can explain the principles under which price formation occurs without being able to predict the future course of prices.
Similar(58)
What is the level of uncertainty concerning the factors that may influence the future course of price development?
I cannot agree that the District Court should be reversed for failure to prophesy the exact future course of commodity prices.
The important pint to consider now is the future course of stock prices.
Nevertheless, the inflation outlook remains highly uncertain, not least because of the difficulty of predicting the future course of commodity prices, and we will continue to monitor inflation and inflation expectations closely.
It might help, but no-one knows the future course of house price inflation and there is no guarantee that politicians will not tax housing profits in future.
The future course of New Line Cinema, perhaps.
The "entire future course of monetary policy"?
Next year the airline plans to sell places on future courses for around the price of a return trip from Gatwick to Rome: about £125.
Of course, the future of gasoline prices is hard to figure.
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