Certain expressions used by the people are often entirely wrong. Thus, they are attributed to captains of industry and great entrepreneurs of our epithet days as ‘the king of chocolate’, ‘king of cotton’ or ‘the king of the automobile’. By using these expressions, the people seem to see practically no difference between the industrialists of today and the kings, dukes or lords of yore. .
But in reality, the difference is huge, because a chocolate king does not rule at all, he serves. It does not reign over conquered territory, regardless of the market, independent of its buyers. The king of chocolate - or steel, or the automobile, or any other king of contemporary industry - depends on the industry it manages and the customers it serves. This ‘king’ needs to remain in the good graces of its subjects, consumers: it will lose its ‘kingdom’ as soon as it is no longer able to provide its customers with a better, lower-cost service than that offered by its competitors. .
Two hundred years ago, before the advent of capitalism, a man's social status remained unchanged from the beginning to the end of his existence: he was inherited from his ancestors and never changed. If he were born poor, the poor would be forever; if rich - lord or duke - he would keep his duchy, and the property that accompanied him for the rest of his days. ” .
Today things are not like that anymore. According to Mises, author of the photo book, capitalism created a dictatorship, the consumer dictatorship. It is the consumer, for example, who made Jeff Bezos the richest man in the world, because he sells everything to more people at the lowest prices. And it is the same consumer who can take that title from him and offer it to another entrepreneur who will do it better or cheaper. .
The market doesn't care about the social status of your ancestors, it only cares about how much you can do to meet the demands of the largest number of people around you.
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