quote · Legacy record
The entrepreneur who is reckoning in terms of a currency with a stable value is unable to compete with the entrepreneur who is prepared to make a quasi-gift of part of his capital to his customers. In 1920 and 1921, Dutch traders who had sold commodities to Austria could buy them back again after a while much cheaper than they had originally sold them, because the Austrian traders completely failed to see that they were selling them for less than they had cost.
The entrepreneur who is reckoning in terms of a currency with a stable value is unable to compete with the entrepreneur who is prepared to make a quasi-gift of part of his capital to his customers. In 1920 and 1921, Dutch traders who had sold commodities to Austria could buy them back again after a while much cheaper than they had originally sold them, because the Austrian traders completely failed to see that they were selling them for less than they had cost.
Approximate author period: c. 1927 AD · modern
Meaning not yet available
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Begin with source-checked readings and explanations ↗Attribution & collection notes
- Author or tradition
- Ludwig von Mises
Attribution: attributed - Country attributed
- Not established
A country attribution does not establish the earliest origin. - Historical period
- Approximate author period: c. 1927 AD · modern
Approximate author-period anchor from life dates 1881 to 1973; Wikidata Q84233, https://www.wikidata.org/wiki/Q84233 (accessed 2026-10-08). Not a quotation composition date.
An author lifetime, approximate period or collection date is not necessarily the date when these words were first written or spoken. - Recorded source
- Contributor-provided quotation collection
Supplied reference C; CSV row 119630; supplied attribution, independently unverified
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