A Quote by Ludwig von Mises
Competition on the market aims at assigning to every individual that function in the social system in which he can render to all his fellow men the most valuable of the services he is able to perform.
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The market steers the capitalistic economy. It directs each individual's activities into those channels in which he best serves the wants of his fellow-men. The market alone puts the whole social system of private ownership of the means of production and free enterprise in order and provides it with sense and meaning.
By definition, chaplains minister to the spiritual needs of our men and women in armed services, a vital function that an individual without any inclination toward spirituality would not be able to perform.
A market economy is a tool - a valuable and effective tool - for organizing productive activity. A market society is a way of life in which market values seep into every aspect of human endeavour. It's a place where social relations are made over in the image of the market.
I think the market is always going to be around. The goal is not to say, let's get rid of the market, because the market does render a huge number of services, and I don't want to have a fight about the price of something every time I buy a book or a bottle of water.
What type of new economical system can organize this system? There is another sector in our life, that we rely on every single day, that are absolutely essential: the social commons, the social economy. It is all the activity we engage in to create social capital. It doesn't create capital market. Social commons is growing faster than the market place. It is growing faster than the market place. The social commons include any activity that is deeply social and collaborative.
Within the market society each serves all his fellow citizens and each is served by them. It is a system of mutual exchange of services and commodities, a mutual giving, and receiving.
In the market economy the worker sells his services as other people sell their commodities. The employer is not the employee's lord. He is simply the buyer of services which he must purchase at their market price.
There is only one social system that reflects the sovereignty of the individual: the free-market, or capitalist, system.
Girls, like men, want to be petted, pitied, and made much of, when they are diffident, in low spirits, or in unrequited love. These are services which the weak cannot render to the strong and which the strong will not render to the weak, except when there is also a difference of sex.
When individual enterprise is free and unhampered, profit-and-loss calculations set precise limits to a businessman's temptations to expand his services... a government valuable they may be, have no market price and, therefore, cannot be subjected to profit-and-loss accounting.
The institution of the family is decisive in determining not only if a person has the capacity to love another individual but in the larger social sense whether he is capable of loving his fellow men collectively. The whole of society rests on this foundation for stability, understanding and social peace.
Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
When we look at the astonishing material achievements of the West. we see these things as the result, not of compulsion or government action or the superior wisdom of a few, but of that system of competition and free enterprise, rewarding success and penalising failure, which enables every individual to participate by his private decisions in shaping the future of his society.
In the whole history of capitalism, no one has been able to establish a coercive monopoly by means of competition in a free market...Every single coercive monopoly that exists or ever has existed...was created and made possible only by an act of government...which granted special privileges (not obtainable in a free market) to a man or a group of men, and forbade all others to enter that particular field.
Smith, as we have said, was not the proponent of any one class. He was a slave to his system. His whole economic philosophy stemmed from his unquestioning faith in the ability of the market to guide the system to its point of highest return. The market — that wonderful social machine — would take care of society's needs if it was left alone. "Consumption is the sole end and purpose of all production," he wrote.
The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts on his own behalf; but everybodys actions aim at the satisfaction of other peoples needs as well as at the satisfaction of his own. Everybody in acting serves his fellow citizens.
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