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1.3. Management Under the Profit System

  • Bureaucracy by Ludwig von Mises

Tags The EntrepreneurFree Markets

05/02/1944Ludwig von Mises

The sovereignty of the consumers and the democratic operation of the market do not stop at the doors of a big business concern. They permeate all its departments and branches. Responsibility to the consumer is the lifeblood of business and enterprise in an unhampered market society. The profit motive through the instrumentality of which the entrepreneurs are driven to serve the consumers to the best of their ability is at the same time the first principle of any commercial and industrial aggregate's internal organization.

From Chapter I: "Profit Management". Narrated by Millian Quinteros.

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