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The fundamental law of the market is: the customer is always right.

Ludwig von Mises

Related Topics

Customer Fundamentals Law Right

Bagwalas

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

Whoever prefers life to death, happiness to suffering, well-being to misery must defend without compromise private ownership in the means of production.
LUDWIG VON MISES

Compromise Death Happiness Liberty Mean Misery Ownership Prefer Suffering
What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning.
LUDWIG VON MISES

Liberation Mankind Ned Ninsensical Reason Return Rule Slogan Sound Today
Taxing profits is tantamount to taxing success.
LUDWIG VON MISES

Profit Success Tantamount Tax
They do not realize that, in a system where there is no market, where the government directs everything, all those other freedoms are illusory, even if they are made into laws and written up in constitutions.
LUDWIG VON MISES

Constitution Direct Freedom Government Illusory Law Market Other System
If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action.
LUDWIG VON MISES

Account Faire Faliblity Government Laissez Man Moral React Reason Reject Same Weakness
The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
LUDWIG VON MISES

Consumer Done Entrepreneur People Profit Successful
For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created.
LUDWIG VON MISES

Create Destruction Essence Private Production Social
The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute preeminence of his own plan.
LUDWIG VON MISES

According Dictator Other Own People Plan Planner Potential Power Want Deprive
Historical knowledge is indispensable for those who want to build a better world
LUDWIG VON MISES

Better Build Historical Indispensable Knowledge Want World
They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent.
LUDWIG VON MISES

Aboish Democrat Dictatorship Government Liberal Revolution Themselves Upon
The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement.
LUDWIG VON MISES

Bless Championship Characteristics Garden Men Observation Progressive Recommend Routine Socialism System
Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce.
LUDWIG VON MISES

Choose Division Entrepreneur Faire Individual Labor Liassez Mean Mechanical Operate Soules
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
LUDWIG VON MISES

Corollary Economic Government Market Political Representative Socialism
The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.
LUDWIG VON MISES

Abolish Collapse Country Gold Government Inflation Order Pave Wave
There is no means by which anyone can evade his personal responsibility.
LUDWIG VON MISES

Anyone Evade Mean Personal Responsibility
They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.
LUDWIG VON MISES

Appearance Artificial Boom Collapse Create Depression Expansion Open Soon Way

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