Abstract
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.
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Notes and References
Karl Marx, Das Kapital, Vol. I (Berlin: Dietz Verlag, 1951) p. 803.
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© 1989 Trade Policy Research Centre
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Eucken, W. (1989). What Kind of Economic and Social System?. In: Peacock, A., Willgerodt, H. (eds) Germany’s Social Market Economy: Origins and Evolution. Trade Policy Research Centre. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20145-7_3
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DOI: https://doi.org/10.1007/978-1-349-20145-7_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-20147-1
Online ISBN: 978-1-349-20145-7
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