Free-market economy explained
“The captain is the consumer…the consumers determine precisely what should be produced, in what quality, and in what quantities…They are merciless egoistic bosses, full of whims and fancies, changeable and unpredictable.
For them nothing counts other than their own satisfaction…In their capacity as buyers and consumers they are hard-hearted and callous, without consideration for other people…
Capitalists…can only preserve and increase their wealth by filling best the orders of the consumers…
In the conduct of their business affairs they must be unfeeling and stony-hearted because the consumers, their bosses, are themselves unfeeling and stony-hearted.
Profit-seeking speculation is the driving force of the market as it is the driving force of production.”
– Ludwig von Mises – Human Action
A rather cynical view of The People,
and a chilling view of The Capitalists.
Yet, this is the view that influences The Tea Party movement.
<IMHO> Fred Jacobsen
- Ludwig von Mises is My Homeboy or, Praxeology Today, Praxeology Tomorrow, Praxeology Forever! (reason.com)
- A new powerhouse for ridiculous GOP economics (salon.com)