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The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.

Ludwig von Mises

Related Topics

Consumer Done Entrepreneur People Profit Successful

Bagwalas

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

All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.
LUDWIG VON MISES

Action First Rational Reason Think
The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters.
LUDWIG VON MISES

Advocate Control Inflation Need Order Public Voter
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
The market is a democracy in which every penny gives a right to vote.
LUDWIG VON MISES

Democracy Enny Give Giving Market Pennies
Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
LUDWIG VON MISES

Depression Government Interference Market Mass Unemployment
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
The final outcome of the credit expansion is general impoverishment.
LUDWIG VON MISES

Credit Expansion Final General Impoverishment Outcome
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
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
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
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
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 criterion of truth is that it works even if nobody is prepared to acknowledge it.
LUDWIG VON MISES

Acknowledge Criteria Criterion Prepare Truth
The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
LUDWIG VON MISES

Abandonment Alternative Come Currency Expansion Involved Sooner Voluntary Whether
Under capitalism everybody is the architect of his own fortune.
LUDWIG VON MISES

Architect Capitalism Character Fortune Kwanzaa Own
Depression is the aftermath of credit expansion.
LUDWIG VON MISES

Aftermath Credit Depression Expansion

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