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CONSUMERS’ SOVEREIGNTY AND NATURAL VS. CONTRIVED SCARCITIES

by Richard Ebelling One of the great myths about the […]

CONSUMERS’ SOVEREIGNTY AND NATURAL VS. CONTRIVED SCARCITIES • dreamstime xs 22275745

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by Richard Ebelling

One of the great myths about the capitalist system is the presumption that businessmen make profits at the expense of the consumers and workers in society. Nothing could be further from the truth.

In the free market, consumers are the sovereign rulers who determine what gets produced, and with what qualities and features. The sovereign consumers also determine who will be the owners and entrepreneurs of business enterprises.

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The views expressed on austriancenter.com are not necessarily those of the Austrian Economics Center.

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