Free Market System Quotes
This quotation is particularly noteworthy as it is a classic example of a modern conspiracy theory. In this literal case, the author actually uses the word “conspiracy,”
Mises observes the classic philosophical quandary of business and commerce. If we cannot leave everything to the market place and the capitalists and entrepreneurs because they are morally and ethically fallible, will not the government people who regulate and control them be equally moral and fallible? Mises critics point out that Mises misses the difference in a democracy, that if fallible businessmen err, all can suffer and their personal vested interests do not necessarily coincide with the interests of the majority in general. If the government representative of the majority are fallible and err, the majority can correct them and if the majority does not, the people have undone themselves and have not been the victims of the foibles of a few privileged people in the society. Mises argues that it is the minority who, if left alone, would produce the best standard of living for the majority who should exercise they right to regulation only by their acts as consumers.
