Austrian theory trade cycle other essays pdf

Well, lets consider the plight of businessmen in their commercial ventures according to Marshall, "who bears the penalty of any error in his judgment; and who, if his judgment is approved by events, benefits the community as well as himself. Let him be considering whether to erect dwelling houses, or warehouses, or factories, or shops." (297) He must estimate the costs and he must anticipate what price he may be able to charge. "He brings this estimate of cost into relation with the estimate of the price he is likely to get for any given building together with its site.  If he can find no case in which the demand price exceeds his outlays by enough to yield him a good profit, with some margin against risks, he may remain idle." (298)

Austrian theory trade cycle other essays pdf

austrian theory trade cycle other essays pdf

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austrian theory trade cycle other essays pdfaustrian theory trade cycle other essays pdfaustrian theory trade cycle other essays pdfaustrian theory trade cycle other essays pdf