Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price read more

Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price represents an opportunity that leads inventors and businesspeople to seek new ways to satisfy the shortages. Some fail, at cost to themselves. A few succeed, and the final result is that we end up better off than if the original shortage problems had never arisen. That is, we need our problems, though this does not imply that we should purposely create additional problems for ourselves.

...the only means to well-being is to increase the quantity of products. This is what business aims at.

...the only means to well-being is to increase the quantity of products. This is what business aims at.

I've got a living to make, to put it plainly; there's more money in shocking and terrifying than in edifying.

I've got a living to make, to put it plainly; there's more money in shocking and terrifying than in edifying.

You cannot have the success without the failures.

You cannot have the success without the failures.

As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.

As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.

I do not regard a broker as a member of the human race.

I do not regard a broker as a member of the human race.

The buck stops with the guy who signs the checks.

The buck stops with the guy who signs the checks.

No one has a greater asset for his business than a man's pride in his work.

No one has a greater asset for his business than a man's pride in his work.

A compromise is the art of dividing a cake in such a way that everyone believes that he has got read more

A compromise is the art of dividing a cake in such a way that everyone believes that he has got the biggest piece.