The fundamental difference between fairs and markets

posted by
June 8, 2011
Ludwig von Mises Institute
by ARJ Turgot  
Posted in Commentary

"The word fair, which is derived from forum, a public square, was originally synonymous with that of market, and is still so in certain respects. Both signify a gathering of sellers and buyers at a set time and place, but the word fair seems to present the idea of a more numerous, more solemn, and consequently, less common gathering. The use of these two words in ordinary language appears to be determined by this distinction, which is immediately perceptible, but which itself arises from a less obvious, and, as it were, more radical, difference between these two things." (06/07/11)  

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