Determine Quote by Ludwig von Mises
“The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.”
About This Quote
Source Book: Human Action, Ludwig von Mises, 1949
The market, when left to set wages, is seen as the best way to achieve full employment.
In simple terms: Free market wages lead to full employment.
Key Takeaway
Trust market mechanisms for employment.
Themes
economics
labor
policy
Mood
analytical
critical
Type
economic
political
When to use this quote
- government policy
- business planning
- career counseling
Key Concepts
classical liberalism
price theory
Questions to Reflect On
- How do market failures affect wage setting?
- Can government intervention improve outcomes?
A Different Perspective
Assumes perfect competition and ignores power imbalances.
