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March 1, 2005
Quote of the Day
The position which entrepreneurs and capitalists occupy in the market economy is of a different character. A "chocolate king" has no power over the consumers, his patrons. He provides them with chocolate of the best possible quality and at the cheapest price. He does not rule the consumers, he serves them. The consumers are not tied to him. They are free to stop patronizing his shops. He loses his "kingdom" if the consumers prefer to spend their pennies elsewhere. Nor does he "rule" his workers. He hires their services by paying them precisely the amount which the consumers are ready to restore to him in buying the product.Ludwig von Mises, Human Action
Posted by Peter Mork at March 1, 2005 7:53 AM
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