Liberty and Property.pdf - The Ludwig von Mises Institute

20Liberty and Propertyemphasis laid by business on markets. Whatbusiness needs first of all is markets and againmarkets. This was the watch-word of capitalisticenterprise. Markets, that means patrons,buyers, consumers. There is under capitalismone way to wealth: to serve the consumersbetter and cheaper than other people do.Within the shop and factory the owner—or in the corporations, the representative ofthe shareholders, the president—is the boss.But this mastership is merely apparent andconditional. It is subject to the supremacy ofthe consumers. The consumer is king, is thereal boss, and the manufacturer is done for ifhe does not outstrip his competitors in bestserving consumers.It was this great economic transformationthat changed the face of the world. It verysoon transferred political power from thehands of a privileged minority into the handsof the people. Adult franchise followed in thewake of industrial enfranchisement. The commonman, to whom the market process hadgiven the power to choose the entrepreneur