A Quote by Ludwig von Mises
It is inherent in the nature of the capitalistic economy that, in the final analysis, the employment of the factors of production is aimed only toward serving the wishes of consumers.
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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. Thus, whenever there is a conflict between the consumers' views and those of the business managers, market pressures assure that the views of the consumers win out eventually.
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.
I think it is only natural that people have anxiety about the economy because the economy is real. It is their job, their ability to service their mortgage and look after their family. And in the final analysis, nothing is more important than your capacity as a breadwinner or an earner to provide for those that rely on you.
When consumers do not take full advantage of efficiency gains, it is because they are weighing other factors that influence their decision making. When the federal government arbitrarily places one of those factors over others, it makes consumers worse off.
The government must nurture an eco-system where the economy is primed for growth; and growth promotes all-rounddevelopment. Where development is employment-generating ; and employment is enabled by skills. Where skills are synced with production; and production is benchmarked to quality. Where quality meets global standards; and meeting global standards drives prosperity. Most importantly, this prosperity is for the welfare of all. That is my concept ofeconomic good governance and all round development.
Prolonged inflation never 'stimulates' the economy. On the contrary, it unbalances, disrupts, and misdirects production and employment.
Globalisation, and specifically our connectivity to China, has contributed to a sustained growth in the U.S. economy, has led to full employment and has benefited consumers with lower-cost, high-quality goods.
Narrow banks could restart effective intermediation and ensure that consumers and employment-creating small and medium-size enterprises are adequately financed and can contribute to the reactivation of the economy.
If consumers are strong, if consumers are protected, if they can trust the marketplace and feel confident that they're not being cheated here and there, then consumers can drive this economy forward.
When we call a capitalist society a consumers democracy we mean that the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers ballot, held daily in the marketplace.
No matter whether it is their intention or not, almost anything that the rich can legally do tends to help the poor. The spending of the rich gives employment to the poor. But the saving of the rich, and their investment of these savings in the means of production, gives just as much employment, and in addition makes that employment constantly more productive and more highly paid, while it also constantly increases and cheapens the production of necessities and amenities for the masses.
Only the federal government has the power to spend beyond its current revenue. It shouldn't do that when the economy is at full employment. But it's an essential step for an economy mired in recession.
Radicals, on the other hand, want to advance from the jungle of laissez-faire capitalism to a world worthy of the name of human civilization. They hope for a future where the means of economic production will be owned by all of the people instead of just a comparative handful. They feel that this minority control of production facilities is injurious to the large masses of people not only because of economic monopolies but because the political power inherent in this form of centralized economy does not augur for an ever expanding democratic way of life.
Only in more production and in new production can the American standard of living be increased and the economy be sound.
It is the nature of aphoristic thinking to be always in a state of concluding; a bid to have the final word is inherent in all powerful phrase-making.
For some reason, everyone says "fashion is responsible for skinny models." I don't believe that myself. I believe consumers dictate commercial success and trends in a capitalistic society. So I believe if consumers wanted to see - like, who decided that Barney the Dinosaur was going to be a million-dollar industry?
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