by Ludwig von Mises | February 28, 2007 | Politics & Social Sciences
Bureaucracy contrasts the two forms of economic management―that of a free-market economy and that of a bureaucracy. In the market economy entrepreneurs are driven to serve consumers by their desire to earn profits and to avoid losses. In a bureaucracy, the managers must comply with orders issued by the legislative body under which they operate; they may not spend without authorization, and they may not...
Bureaucracy contrasts the two forms of economic management―that of a free-market economy and that of a bureaucracy. In the market economy entrepreneurs are driven to serve consumers by their desire to earn profits and to avoid losses. In a bureaucracy, the managers must comply with orders issued by the legislative body under which they operate; they may not spend without authorization, and they may not deviate from the path prescribed by law.
Ludwig von Mises here lucidly demonstrates how the efficiencies of private ownership and control of public good production ultimately trump the guesswork of publicly administered “planning” through codes and “officialdom.”
Ludwig von Mises (1881–1973) was the leading spokesman of the Austrian School of economics throughout most of the twentieth century.
Bettina Bien Greaves is a former resident scholar and trustee of the Foundation for Economic Education and was a senior staff member at FEE from 1951 to 1999.
ISBN #
0865976643
Page count
865,976,643 pages
Publication Date
February 28, 2007
Publisher
Liberty Fund
Category
Non-Fiction
Genre
Amazon Star Rating
4.6
Amazon Ratings Count
39 ratings
Amazon Last Rating Data Date
August 9, 2021
When you purchase an independently ranked book through our site, we earn an affiliate commission.
When you purchase an independently ranked book through our site, we earn an affiliate commission.