In a socialist economy, government politicians and bureaucrats dictate what is produced and how much products and services cost.
In a free market economy, entrepreneurs decide what is produced and how much products and services cost.
As this article explains, the most successful entrepreneurs are those clearly understand human nature and are, therefore, most capable at meeting customers needs and wants.
In a free market economy, entrepreneurs decide what is produced and how much products and services cost.
As this article explains, the most successful entrepreneurs are those clearly understand human nature and are, therefore, most capable at meeting customers needs and wants.
"Often when an eye-catching innovation comes along, it’s pretty easy to see the change in the world that is fueling it. What’s more difficult, but crucial if you’re going to spot meaningful trends, is seeing the basic human need at work."