Quotation of the Day…

by Don Boudreaux on May 20, 2017

in Competition, Seen and Unseen, Work

… is from page 24 of Ludwig von Mises’s January 1962 essay “The Elite Under Capitalism,” as this essay is reprinted in the original, 1990 edition of the collection of some of Ludwig von Mises’s shorter essays, Economic Freedom and Interventionism (Bettina Bien Greaves, ed.):

If one de­plores the businessman’s unfeel­ing preoccupation with profit-seeking, one has to realize two things.  First, that this attitude is prescribed to the entrepreneur by the consumers who are not pre­pared to accept any excuse for poor service.  Secondly, that it is precisely this neglect of “the hu­man angle” that prevents arbi­trariness and partiality from af­fecting the employer-employee nexus.


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