Mises’s classic examination of the nature of bureaucracies and free markets in juxtaposition to various political systems. Contrasts the two forms of economic management — that of a free-market economy and that of a bureaucracy. In the market economy, entrepreneurs are driven to serve consumers by their desire to earn profits. In a bureaucracy, managers must comply with orders issued by the legislative body under which they operate; they may not spend without authorization and they may not deviate from the path prescribed by law.
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