Sunday, July 1, 2012
Mises: The Will of the People as Consumers
"In the capitalistic society, men become rich … by serving consumers in
large numbers…. The capitalistic market economy is a democracy in which
every penny constitutes a vote. The wealth of the successful businessman
is the result of a consumer plebiscite. Wealth, once acquired, can be
preserved only by those who keep on earning it anew by satisfying the
wishes of consumers. The capitalistic social order, therefore, is an
economic democracy in the strictest sense of the word. In the last
analysis, all decisions are dependent on the will of the people as
consumers." Ludwig von Mises
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