The AEC’s fundamental goal is to promote a free, responsible and prosperous society. Through education and improving public understanding of key economic questions, the AEC promotes the idea of a free market economy and the ideal of a free society.
Austrian Economics Center
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February 24th, 2015
CONSUMERS’ SOVEREIGNTY AND NATURAL VS. CONTRIVED SCARCITIES
by Richard Ebelling One of the great myths about the […]
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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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