The principles which regulate the economic systems of the industrialised world should, ideally, achieve the same results as those obtained in a small subsistence economy. The ruler in a subsistence economy would have intimate knowledge of the economic activity being carried out in his domain and would be able to evaluate its utility. He would also be in a position to give instructions to ensure that all factors of production were used to the best advantage.
CITATION STYLE
Eucken, W. (1989). What Kind of Economic and Social System? In Germany’s Social Market Economy: Origins and Evolution (pp. 27–45). Palgrave Macmillan UK. https://doi.org/10.1007/978-1-349-20145-7_3
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