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Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. And read more
Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. And when a person does not understand the creation of resources and wealth, the only intellectual alternative is to believe that increasing wealth must be at the cost of someone else. This belief that our good fortune must be an exploitation of others may be the taproot of false prophecy about doom that our evil ways must bring upon us.
I have probably purchased fifty 'hot tips' in my career, maybe even more. When I put them all together, I read more
I have probably purchased fifty 'hot tips' in my career, maybe even more. When I put them all together, I know I am a net loser.
If all the economists were laid end to end, they'd never reach a conclusion.
If all the economists were laid end to end, they'd never reach a conclusion.
The market is a place set apart where men may deceive each other.
The market is a place set apart where men may deceive each other.
It is only when the rich are sick that they fully feel the impotence of wealth.
It is only when the rich are sick that they fully feel the impotence of wealth.
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.
I wake up every morning and thank God I’m not a chartered accountant any longer, but involved with property.
I wake up every morning and thank God I’m not a chartered accountant any longer, but involved with property.
My father taught me to work; he did not teach me to love it.
My father taught me to work; he did not teach me to love it.
The financial climate is the worst it's been in 25 years.
The financial climate is the worst it's been in 25 years.
