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1.1. The Operation of the Market Mechanism
Episode 4

1.1. The Operation of the Market Mechanism

Bureaucracy · Mises Institute

May 2, 1944

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Show Notes

The capitalists, the enterprisers, and the farmers are instrumental in the conduct of economic affairs. They are at the helm and steer the ship. But they are not free to shape its course. They are not supreme, they are steersmen only, bound to obey unconditionally the captain's orders. The captain is the consumer.

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

Topics

Free MarketsProduction TheoryValue and Exchange