Profit and Loss
by Ludwig Von Mises
Publisher: Von Mises Institute 2008
Number of pages: 57
The author explains how cost accounting is the critical institution that ferrets out social waste, ensures that resources are directed to their most highly valued ends, and how entrepreneurs respond to price signals. His presentation is systematic, relentless, logical, and ultimately devastating to the opponents of profit and loss.
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In his lecture, Professor Marschak has set himself the task of incorporating the new developments in monetary theory and presenting them in a logical, precise and rigorous manner. He reveals the precise nature of the new analytical equipment.
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