Mises Daily
Author:
Ludwig von Mises
Online Publish Date:
[This article is excerpted from Human Action , chapter 16 section 7, “Good Will.”] It must be emphasized again that the market is peopled by men who are not omniscient and have only a more or less defective knowledge of prevailing conditions. The buyer must always rely upon the trustworthiness of the seller. Even in the purchase of producers’