It is not the fault of the entrepreneurs that the consumers, the people, the common man, prefer liquor to Bibles and detective stories to serious boo… - Ludwig von Mises

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It is not the fault of the entrepreneurs that the consumers, the people, the common man, prefer liquor to Bibles and detective stories to serious books, and that governments prefer guns to butter. The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely.

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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.

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Also Known As

Native Name: Ludwig Heinrich Edler von Mises
Alternative Names: Ludwig Heinrich Mises
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Praxeology is a theoretical and systematic, not a historical, science. Its scope is human action as such, irrespective of all environmental, accidental, and individual circumstances of the concrete acts. Its cognition is purely formal and general without reference to the material content and the particular features of the actual case. It aims at knowledge valid for all instances in which the conditions exactly correspond to those implied in its assumptions and inferences. Its statements and propositions are not derived from experience. They are, like those of logic and mathematics, a priori. They are not subject to verification or falsification on the ground of experience and facts.

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