Entrepreneurship

Once it is understood that profits and losses evolve from the changing values of consumers, it becomes obvious that abolishing windfall profits or windfall losses is impossible.

Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. 

Government planners admit they don't know how consumers actually want to use city land. But that doesn't stop them from regulating every lot in town.

For Austrians, competition entails not only vigorous price cutting, but intense competition in terms of product quality, return policies, and more.