The idea that political freedom can be preserved in the absence of economic freedom, and vice versa, is an illusion. Political freedom is the corollary of economic freedom.
Ludwig Von MisesRead
It is inherent in the nature of the capitalistic economy that, in the final analysis, the employment of the factors of production is aimed only toward serving the wishes of consumers.
Interpretation
What this quote means
In capitalism, the ultimate goal of production is to satisfy consumer desires.
Ludwig Von Mises emphasizes that in a capitalist economy, all resources and factors of production are utilized primarily to fulfill the demands and preferences of consumers. This underscores the foundational principle that economic activities are directed toward serving the needs and wishes of individuals, highlighting the consumer's role in shaping production and market strategies.
Themes
CapitalismProductionConsumersEconomyMarket
In practice
Example use cases
In a business seminar discussing market strategies.
More from Ludwig Von Mises
All quotes βWars of aggression are popular nowadays with those nations convinced that only victory and conquest could improve their material well-being.
Ludwig Von MisesRead
Only stilted pedants can conceive the idea that there are absolute norms to tell what is beautiful and what is not. They try to derive from the works of the past a code of rules with which, as they fancy, the writers and artists of the future should comply. But the genius does not cooperate with the pundit.
Ludwig Von MisesRead
The most serious dangers for American freedom and the American way of life do not come from without.
Ludwig Von MisesRead
The public firm can nowhere maintain itself in free competition with the private firm; it is possible today only where it has a monopoly that excludes competition. Even that alone is evidence of its lesser economic productivity.
Ludwig Von MisesRead
Each epoch has found in the Gospels what it sought to find there, and has overlooked what it wished to overlook.
Ludwig Von MisesRead
Similar quotes
I agree that income disparity is the great issue of our time. It is even broader and more difficult than the civil rights issues of the 1960s. The '99 percent' is not just a slogan. The disparity in income has left the middle class with lowered, not rising, income, and the poor unable to reach the middle class.
Eleanor Holmes NortonRead
Just as we should never balance the budget on the backs of the poor, so it is an economic delusion to think you can balance it only on the wallets of the rich.
George OsborneRead
There can be no rise in the value of labour without a fall of profits.
David RicardoRead
The 'boom-bust' cycle is generated by monetary intervention in the market, specifically bank credit expansion to business.
Murray RothbardRead
Zoning laws making housing more expensive? That's less of a problem with a universal basic income and more of a reason to put money directly into people's hands.
Andrew YangRead
What someone is paid has little or no relationship to what their work is worth to society.
Robert ReichRead