Mises Daily
Author:
Hans F. Sennholz
Online Publish Date:
[Originally published in the Freeman , November 1964, this article is included in Free Market Economics: A Basic Reader , edited by Bettina Bien Greaves.] Although every businessman aims to earn a “profit,” he usually knows very little about the economic nature of his objective. He may even succeed in earning a profit, and yet be unable to explain