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 real bosses, in the capitalist system of market economy, are the consumers.
Interpretation
What this quote means
Consumers hold the true power in a market economy by influencing demand and choices.
Ludwig Von Mises emphasizes the fundamental role of consumers in a capitalist system, suggesting that it is the consumers who ultimately dictate what products succeed or fail in the marketplace, thus acting as the true decision-makers or 'bosses' in the economy. This perspective highlights the importance of consumer choice and demand in shaping business strategies and economic outcomes.
Themes
ConsumersCapitalismMarket EconomyPowerChoices
In practice
Example use cases
In a business presentation discussing market dynamics, to highlight the importance of consumer preferences.
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
The hidden hand of the market will never work without a hidden fist -- McDonald's cannot flourish without McDonnell Douglas, the builder of the F-15. And the hidden fist that keeps the world safe for Silicon Valley's technologies is called the United States Army, Air Force, Navy and Marine Corps.
Thomas FriedmanRead
There is always some chance of recession in any year. But the evidence suggests that expansions don't die of old age.
Janet YellenRead
If the job of capitalism is to create wealth for those who put up the capital, no fund group comes close to Vanguard's success in serving its owners. So we're probably as far away from communism as is realistically possible.
John C. BogleRead
Reforms aimed at increasing an economy's flexibility are always hard - and even more so at a time of weak growth - because they require eliminating protections for vested interests in the short term for the sake of greater long-term prosperity.
Michael SpenceRead
What do you think a stimulus is? Itβs spending - that's the whole point! Seriously.
Barack ObamaRead
People who think a tax boost will cure inflation are the same ones who believe another drink will cure a hangover.
Ronald ReaganRead