commodities sold already market price authoritatively fixed a level de — Ludwig von Mises, Theory Money Credit

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For once the commodities have been sold that were already on the market when their price was authoritatively fixed at a level below that demanded by the situation of the market, then the emptied store-rooms are not filled again. Charging more than a certain price is prohibited, but producing and selling has not been made compulsory. There are no longer any sellers. The market ceases to function. But this means that economic organization based on division of labour becomes impossible. The level of money-prices cannot be fixed without overthrowing the system of social division of labour.

Ludwig von Mises, The Theory of Money and Credit

Related Authors: Ludwig von Mises | The Theory of Money | Credit

Related Topics: capitalism, economics, freedom, money

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