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
The market economy-capitalism-is a social system of consumers' supremacy.
Interpretation
What this quote means
This quote signifies that in a market economy, consumers have the ultimate power and influence over the market dynamics.
Ludwig Von Mises emphasizes that capitalism prioritizes consumer choice and demand, positioning consumers as the vital force that drives the economy. In this system, producers must cater to the needs and preferences of consumers, as their purchasing decisions ultimately determine the success or failure of businesses.
Themes
EconomyCapitalismConsumersMarketSupremacy
In practice
Example use cases
In a business presentation discussing market strategies, one could use this quote to highlight the importance of consumer feedback.
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
In America, people with lots of money can easily avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble.
Robert ReichRead
The desire for economic prosperity is itself not culturally determined but almost universally shared
Francis FukuyamaRead
The most insidious thing about trickle-down economics is not the claim that if the rich get richer, everyone is better off. It is the claim made by those who oppose any increase in the minimum wage that if the poor get richer, that will be bad for the economy. This is nonsense.
Nick HanauerRead
The time has come to end this charade. The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves. Africa should say: 'thank you very much but we need this money to meet the needs of children who are dying right now so we will put the debt servicing payments into urgent social investment in health, education, drinking water, control of AIDS and other needs.'
Jeffrey SachsRead
This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.
John Maynard KeynesRead
Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
Alan GreenspanRead