"Is precisely in market dealings that market prices are formed for all kinds of goods and services, which will be taken as the bases of calculation. … - Ludwig von Mises
"Is precisely in market dealings that market prices are formed for all kinds of goods and services, which will be taken as the bases of calculation. Where there is no free market, there is no pricing mechanism; without a pricing mechanism, there is no economic calculation."
"eben im Marktverkehr für alle Arten von verwendeten Gütern und Arbeiten Marktpreise gebildet werden, die zur Grundlage der Rechnung genommen werden können. Wo der freie Marktverkehr fehlt, gibt es keine Preisbildung; ohne Preisbildung gibt es keine Wirtschaftsrechnung."
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About Ludwig von Mises
Ludwig Heinrich Edler von Mises (29 September 1881 – 10 October 1973) was an Austrian economist, philosopher, author and classical liberal who had a significant influence on the modern libertarian movement and the Austrian School of economics.
Biography information from Wikiquote
Also Known As
Native Name:
Ludwig Heinrich Edler von Mises
Alternative Names:
Ludwig Heinrich Mises
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Inequality of wealth and incomes is an essential feature of the market economy. It is the implement that makes the consumers supreme in giving them the power to force all those engaged in production to comply with their orders. It forces all those engaged in production to the utmost exertion in the service of the consumers. It makes competition work. He who best serves the consumers profits most and accumulates
riches.
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