Profit and Loss (Large Print Edition) (Paperback) (ISBN-13: 9781479372188)

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In 1951, Mises gave an outstanding paper that made the summary case for the price system under capitalistic economic systems. In "Profit and Loss," he explains how cost accounting is the critical institution that ferrets out social waste, ensures that resources are directed to their most highly valued ends, and how entrepreneurs respond to price signals. His presentation is systematic, relentless, logical, and ultimately devastating to the opponents of profit and loss.He explains what it is that entrepreneurs confront in a market economy and how no bureaucratic institution can replicate the trial-and-error process that is at the heart of the market system. He weaves into his analysis the role of the consumer as the final arbiter of what is produced and distributed.

Author: Ludwig Von Mises
ISBN-10: 1479372188
ISBN-13: 9781479372188
Publisher: Createspace Independent Publishing Platform
Language: English
Published: 01/01/2008
Pages: 58
Format: Paperback
Weight: 0.30lbs
Size: 10.00h x 8.00w x 0.12d
Large Print