Tag Archives: profits

Why the free market is successful

By Arthur Middleton Hughes The price system is just one of those formations which man has learned to use…after he had stumbled upon it without understanding it. Through it, not only a division of labor, but also a coordinated utilization … Continue reading

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The structure of Production

It is an essential feature of our modern “capitalistic” system of production that at any moment a far larger proportion of the available means of production is employed to provide consumer’s goods for some more or less distant future than … Continue reading

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Why we need entrepreneurs

The entrepreneurial function, the striving of entrepreneurs after profits, is the driving force of the market economy…The only source from which an entrepreneur’s profits stem is his ability to anticipate better than other people the future demand of the consumers…He … Continue reading

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