Friday, August 3, 2012

Free Markets













"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. The market steers the capitalistic economy. It directs each individuals 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. The market economy was not devised by a master mind; it was not first planned as an utopian scheme and then put to work." ~ Ludwig von Mises.

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