1.4. Personnel Management Under an Unhampered Labor Market
The price of labor is a market phenomenon determined by the consumers' demands for goods and services.
Production Theory
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1.1. The Operation of the Market Mechanism
The capitalists, the enterprisers, and the farmers are instrumental in the conduct of economic affairs, but the captain is the consumer.
4.2. Interference with the Height of Profit
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.
7.2. Economics Versus Planning and Totalitarianism
The main issues of present-day politics are purely economic and cannot be understood without a grasp of economic theory.
5.2. Bureaucratic Complacency
It was a purposeful confusion on the part of the German metaphysicians of statolatry that they clothed all men in the government service with the gloriole of altruistic self-sacrifice.
Conclusion to Bureaucracy
Common sense is needed to prevent man from falling prey to illusory fantasies and empty catchwords.
3.2. Public Enterprise within a Market Economy
As soon as an undertaking is no longer operated under the profit motive, other principles must be adopted for the conduct of its affairs.
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