In Free Markets, Consumers Rule

Ludwig von Mises,

Planned Chaos 

The only means to acquire wealth and to preserve it, in a market economy not adulterated by government-made privileges and restrictions, is to serve the consumers in the best and cheapest way. Capitalists and landowners who fail in this regard suffer losses. If they do not change their procedure, they lose their wealth and become poor. It is consumers who make poor people rich and rich people poor. It is the consumers who fix the wages of a movie star and an opera singer at a higher level than those of a welder or an accountant.

Read full article

You May Also Like:

The Reality of Socialism Lawrence Reed, The Foundation for Economic Education

The Alternative To Free Markets Leonard Read, The Apostle of Peace: The Radical Mind of Leonard Read 

The Tariff ‘Protection’ Fallacy Henry George , Protection or Free Trade

What Is ‘The State’? Frédéric Bastiat, Bastiat: Selected Essays on Political Economy

The Welfare State Con Game Thomas Sowell, Passing Thoughts: Try Finding Honesty In Banks, Vocational Ed Or Politics

The Social Benefits of Self Interest Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations

Statism: ’Socialized Dishonesty’ Leonard Read, Foundation for economic education

Free Trade & Mutual Cooperation Henry George, Protection or Free Trade

The ‘Voluntary Sector’ vs. the ’Coercive Sector’ Henry Hazlitt , Man vs. the Welfare State

Understanding Means Seeing The Unseen Frederic Bastiat, Understanding Means Seeing  The Unseen

For More go to the Wisdom Archive Page >>>

Search

Bookshelf



Some titles recent, all recommended -

In Search Of History

Capitalism: The Engine Of Human Progress

It took six thousand years from the invention of the wheel until we developed the two-wheeled cart. … From the time of Moses to Wyatt Earp we moved from two-wheeled carts to four-wheeled carts — buckboards and stagecoaches. Yet Wyatt Earp, who is an adult when he participates in the gunfight at the OK Corral, sees the movement from four-wheeled carts to the Model T. My grandparents were born before man had ever seen powered flight, yet lived to see a time when you could buy a trip into space. The rapid increase in innovation and the wealth of the masses occurred because the West gradually developed the economic system of market capitalism and a compatible political system.

-- Gary Wolfram,

Shadow Stats Snapshot

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    BLS: 4.7%
    Shadow Stats: 22.7%
  • Inflation:
    December Year-to-Year: 2.1% (CPI-U*)
    Shadow Stats: 9.8%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]