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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.
The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer read more
The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer classes have adopted a certain way of living, producers have an incentive to improve the methods of manufacture so that soon it is possible for the poorer classes to follow suit. Thus luxury furthers progress. Innovation "is the whim of an elite before it becomes a need of the public. The luxury today is the necessity of tomorrow." Luxury is the roadmaker of progress: it develops latent needs and makes people discontented. In so far as they think consistently, moralists who condemn luxury must recommend the comparatively desireless existence of the wild life roaming in the woods as the ultimate ideal of civilized life.
A consumer is a shopper who is sore about something.
A consumer is a shopper who is sore about something.
We estimate the wisdom of nations by seeing what they did with their surplus capital.
We estimate the wisdom of nations by seeing what they did with their surplus capital.
High premiums are being paid today not particularly for quality service or long-term building of a business but rather for read more
High premiums are being paid today not particularly for quality service or long-term building of a business but rather for making money quickly, getting rich, and getting out. And that's wrong.
For me, hard work represents the supreme luxury of life.
For me, hard work represents the supreme luxury of life.
Everything you want in life has a price connected to it. There's a price to pay if you want to read more
Everything you want in life has a price connected to it. There's a price to pay if you want to make things better, a price to pay just for leaving things as they are, a price for everything.
The most important benefit of population size and growth is the increase it brings to the stock of useful knowledge. read more
The most important benefit of population size and growth is the increase it brings to the stock of useful knowledge. Minds matter economically as much as, or more than, hands or mouths.
Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents.
Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents.
