“…the purpose of production is to facilitate consumption. It is only through consumption that the true value of production is revealed…”

“We’ve looked specifically at production, which is core to any economy because production simply refers to how societiesscarce resources are used. But it is important to remember that while entrepreneurs create and respond to the prices they themselves create, the purpose of production is to facilitate consumption. It is only through consumption that the true value of production is revealed, and with it what entrepreneurs were better than other—and what entrepreneurs were simply wrong.”

The Seen, the Unseen, and the Unrealized—How Regulations Affect Our Everyday Lives, p. 44, Per L. Bylund

SEE:

Book: The Seen, the Unseen, And the Unrealized-How Regulations Affect Our Everyday Lives