The Birth of the Price Tag

For centuries buying something meant haggling, negotiating with shopkeepers to get a lower price. As a result, the same goods cost different people different prices. In the mid-19th century, U.S. Quakers came to believe that charging people different amounts for the same item was immoral, so they started using price tags which, if not more moral, are more efficient.

An NPR Planet Money video.

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Tags: business, history, Planet Money, price tags, retail, videos