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The concept of the just price is the basis of a great deal of erroneous economic thought that permeates our supposedly free market, capitalistic society. In this lecture, Laurence M. Vance breaks the myth of the just price and presents the biblical case for laissez faire. He argues that not only is any price agreed upon between a willing buyer and a willing seller the just price, that alone is what makes it the just price. It is therefore both impossible and immoral for any governmental body to institute, regulate, control, or recommend what is a just price. Laissez faire is natural, moral, and biblical.

The text of the Lou Church Memorial Lecture in Religion and Economics given by Laurence M. Vance on March 13, 2008, at The Ludwig von Mises Institute's 2008 Austrian Scholars Conference held in Auburn, Alabama, on March 13-15, 2008.

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