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 →Wars 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
Good economic theory must give the people the chance to use their talents to build their own lives. We must get away from the traditional route where the rich will do the business and the poor will depend on private or public charity.
Muhammad YunusRead
Sector-specific price declines, uncomfortable as they may be for producers in that sector, are generally not a problem for the economy as a whole and do not constitute deflation.
Ben BernankeRead
Unless you reduce the long-term spending burden, you cannot cut taxes in any lasting way, but can only shift the burden of taxes from the present to the future.
Peter George PetersonRead
There are only three ways by which any individual can get wealth — by work, by gift or by theft. And, clearly, the reason why the workers get so little is that the beggars and thieves get so much.
Henry GeorgeRead
People stop buying things, and that is how you turn a slowdown into a recession.
Janet YellenRead
Many markets work best with little or no outside interference. But others - especially those subject to big 'externalities' - need a helping hand.
Eric MaskinRead