Quotation of the Day…
by Don Boudreaux
on May 20, 2017
… 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.
Comments
