In other words, the price mechanism has not yet been able to form a support for the market.

The price mechanism leads to market clearing in the short run.

An example of a price mechanism uses announced bid and ask prices.

An example of price mechanism in the long term is the oil crisis during the 1970s.

Another good example of price mechanism in the long run is fuel for cars.

It is no good telling me that the price mechanism does not work any more.

Thus, Hayek put the price mechanism on the same level as, for example, language.

This came down largely on the side of free trade and the price mechanism.

Government seemed to intervene less and become more respectful of price mechanisms in guiding future development.

I do not think the price mechanism can be used to achieve everything.