Are Businesses Entitled to a Fair Profit?
Gary M. Galles is a Professor of Economics at Pepperdine University and an adjunct scholar at the Ludwig von Mises Institute. He is also a research fellow at…
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Gary M. Galles is a Professor of Economics at Pepperdine University and an adjunct scholar at the Ludwig von Mises Institute. He is also a research fellow at…
A story well worth repeating and reflecting upon
Gary M. Galles is a Professor of Economics at Pepperdine University and an adjunct scholar at the Ludwig von Mises Institute. He is also a research fellow at…
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by Gary Galles via Mises A very common rip on market arrangements is that they use people. For instance, I have come across many versions of “love people and use things rather than loving things and using people.” As Paul Heyne expressed the sense of it, “such a system seems somehow to violate our profound moral conviction that nothing is more valuable than individual persons, and that each person ought to be treated as a unique end, never as a means to some further end.” The irony is that those who love liberty derive their endorsement of market arrangements from the primacy of ...