Consumer democracy
Consumer democracy is a system in which the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers' ballot, held daily in the market-place.
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[edit]- The market process is a daily repeated plebiscite, and it ejects inevitably from the ranks of profitable people those who do not employ their property according to the orders given by the public. — von Mises, Ludwig. Liberty and Property. pp. 10.
- The consumers are continuously shifting control of the material factors of production into the hands of those entrepreneurs, capitalists, and landowners who are most successful in supplying them, the consumers, in the cheapest and best possible way. Thus, in the capitalistic economy control of the factors of production is, as it were, a revocable mandate granted by the public. The operation of the market, in a daily repeated plebiscite, assigns to everybody the place in which he is to contribute to the united effort of all. This daily plebiscite determines the height of everybody's income. — von Mises, Ludwig (June 22, 1957). National Review.
- Mostly it is there in the hands of consumers to choose and make market leaders in that particular industry. — Dr. Srividya Nadindla (2011). Behavioral Issues in Consumer Democracy: Consumer Behaviour. GRIN Verlag. ISBN 3656083207.