Ludwig Mises: Entrepreneur Profits

Posted by admin on Tuesday, January 23, 2024

Meaning of Ludwig von Mises Money Quote: saying being entrepreneurial does not mean you’ll necessarily be making money without making what consumers want most. Ludwig von Mises said:
 
The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely Quote
 

“The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely” — Ludwig von Mises

 

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In this quote, Ludwig von Mises is explaining the role of entrepreneurs in a free market economy. He argues that entrepreneurs do not profit more by selling inferior or unwanted products, but rather by fulfilling consumer demand as effectively as possible.

According to Mises, entrepreneurs earn the highest profits when they are most successful at providing consumers with the goods and services that consumers desire most urgently.

So Mises is suggesting that the profit incentive naturally drives entrepreneurs to meet consumer needs and wants, as the only path to greater profits is satisfying market demand through innovation and efficiency.

The overall interpretation is that Mises viewed the free market as self-correcting, with entrepreneurs rewarded most for delivering what benefits consumers, not what is bad for them.

Birthday: September 29, 1881 – Death: October 10, 1973

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