Ludwig von Mises (1881-1972)
This remarkable man realistically appraised the realm of economics even as he happily acknowledged his own membership in the discipline. His theory of an “evenly rotating economy,” used to examine how the discipline changes factors in an economy, he viewed as an inflexible, wooden structure. He declared that “this system is not peopled with living men making choices and liable to error; it is not a human society is not peopled with living really is at work in an economy are entrepreneurs — human actors, innovating and improving their way to profitability. He believed that it is the actions of the human actor that create wealth, not the money put forward by capitalists. Here we see the formal acknowledgment of what entrepreneur have known for generations: the bankers do not create an economy, rather it is the individual who creates new enterprise.
Ludwig von Mises (1881-1972)
This remarkable man realistically appraised the realm of economics even as he happily acknowledged his own membership in the discipline. His theory of an “evenly rotating economy,” used to examine how the discipline changes factors in an economy, he viewed as an inflexible, wooden structure. He declared that “this system is not peopled with living men making choices and liable to error; it is not a human society is not peopled with living really is at work in an economy are entrepreneurs — human actors, innovating and improving their way to profitability. He believed that it is the actions of the human actor that create wealth, not the money put forward by capitalists. Here we see the formal acknowledgment of what entrepreneur have known for generations: the bankers do not create an economy, rather it is the individual who creates new enterprise.
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