2.1. Bureaucracy Under Despotic Government
The first virtue of a government administrator is to abide by the codes and decrees. He becomes a bureaucrat.
The first virtue of a government administrator is to abide by the codes and decrees. He becomes a bureaucrat.
The introduction to Mises's 1944 Bureaucracy. Nobody doubts that bureaucracy is thoroughly bad and that it should not exist in a perfect world.
The virtue of the profit system is that it puts on improvements a premium high enough to act as an incentive to take high risks.
The capitalist variety of competition is to outdo other people on the market through offering better and cheaper goods. The bureaucratic variety consists in intrigues at the "courts" of those in power.
Mises University is the world’s leading instructional program in the Austrian school of economics.
Mises University is the world’s leading instructional program in the Austrian school of economics.