gross operating profit hotel This was in October, when the recession caused sterling to fall. But he feels that the pound now reflects post-recession levels, and there is no reason for prices to fall further. He also estimated that the UK recession might end and that sterling could rise. His data have also shown that the price drop has stopped, and he sees it as a signal that price increases will begin. So he decided to buy the pound. marque The market can indeed be described as a laissez-faire pricing mechanism. However, this price mechanism does not operate in a vacuum, and does not work effectively in any social system. The basic premise of the efficient operation of the price mechanism is the implicit assumption of Smith: to recognize individual "lusts" and to clear and protect individual property rights. Clear and guaranteed personal property is the basic premise of market existence. It is necessary to recognize the personal "lusts" and to ensure that individual property rights are supported by the corresponding institutions, which are not in our society. Since "investigation", in more than a week's time, India's tax department has set his sights on the country's 400000-500000 high net worth individuals and found them in Indian currency exchanges.