Ludwig von Mises: "Monetary calculation and cost accounting constitute the most important intellectual tool of the capitalist entrepreneur, and it was no one less than Goethe who pronounced the system of double-entry bookkeeping one of the finest inventions of the human mind." - Liberalism
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|Ludwig von Mises||It is not labor legislation and labor-union pressure that have shortened hours of work and withdrawn married women and children from the factories; it is capitalism, which has made the wage earner so prosperous that he is able to buy more leisure time for himself and his dependents. The nineteenth centurys labor legislation by and large achieved nothing more than to provide a legal ratification for changes which the interplay of market factors had brought about previously.||Human Action|| p. 612; pp. 616-17||Working Conditions