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.

In a trader-dominated society, the scribe is usually kept out of the management of affairs, but it given a more read more

In a trader-dominated society, the scribe is usually kept out of the management of affairs, but it given a more or less free hand in the cultural field. By frustrating the scribe's craving for commanding action, the trader draws upon himself the scribe's wrath and scorn.

You don't want to get the same kind of advice from everyone on your board.

You don't want to get the same kind of advice from everyone on your board.

We don't want to push our ideas on to customers, we simply want to make what they want.

We don't want to push our ideas on to customers, we simply want to make what they want.

Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'.

Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'.

I'm proud to be paying taxes in the United States. The only thing is -- I could be just as read more

I'm proud to be paying taxes in the United States. The only thing is -- I could be just as proud for half the money.

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

If all the gold in the world were melted down into a solid cube it would be about the size read more

If all the gold in the world were melted down into a solid cube it would be about the size of an eight room house. If a man got possession of all that gold -- billions of dollars worth -- he could not buy a friend, character, peace of mind, clear conscience or a sense of eternity.

The best inheritance a parent can give his children is a few minutes of his time each day.

The best inheritance a parent can give his children is a few minutes of his time each day.