The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.
It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.
The illusiveness of this concept of national income is to be seen in its dependence on changes in the purchasing power of the monetary unit. The more inflation progresses, the higher rises the national income.
American authors or scientists are prone to consider the wealthy businessman as a barbarian, as a man exclusively intent upon making money.
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