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1.4. Personnel Management Under an Unhampered Labor Market

  • Bureaucracy by Ludwig von Mises

Tags Free MarketsPricesProduction Theory

05/02/1944Ludwig von Mises

The price of labor is a market phenomenon determined by the consumers' demands for goods and services. Virtually every employer is always in search of cheaper labor and every employee in search of a job with higher remuneration.

From Chapter I: "Profit Management". Narrated by Millian Quinteros.


Ludwig von Mises

Ludwig von Mises was the acknowledged leader of the Austrian school of economic thought, a prodigious originator in economic theory, and a prolific author. Mises's writings and lectures encompassed economic theory, history, epistemology, government, and political philosophy. His contributions to economic theory include important clarifications on the quantity theory of money, the theory of the trade cycle, the integration of monetary theory with economic theory in general, and a demonstration that socialism must fail because it cannot solve the problem of economic calculation. Mises was the first scholar to recognize that economics is part of a larger science in human action, a science that he called praxeology.

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