Wednesday, April 20, 2011

The Market Force

The selective process of the market is actuated by the composite effort of all members of the market economy.… The resultant of these endeavors is not only the price structure but no less the social structure, the assignment of definite tasks to the various individuals. The market makes people rich or poor, determines who shall run the big plants and who shall scrub the floors, fixes how many people shall work in the copper mines and how many in the symphony orchestras. None of these decisions is made once and for all; they are revocable every day.
Source:  Ludwig von Mises, Human Action, Pg 311
Taken From:  Ralph Raico, Austrian Economics and Classical Liberalism at, 03/04/2010

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