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.

If money be not they servant, it will be thy master. The covetous man cannot so properly be said to read more

If money be not they servant, it will be thy master. The covetous man cannot so properly be said to possess wealth, as that may be said to possess him.

The "human condition" is always to push forward for the better and economics is the study of that process.

The "human condition" is always to push forward for the better and economics is the study of that process.

We live in a time of transition, an uneasy era which is likely to endure for the rest of this read more

We live in a time of transition, an uneasy era which is likely to endure for the rest of this century. During the period we may be tempted to abandon some of the time-honored principles and commitments which have been proven during the difficult times of past generations. We must never yield to this temptation. Our American values are not luxuries, but necessities - not the salt in our bread, but the bread itself.
in his farewell address.

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.

Money isn't everything… but it ranks right up there with oxygen.

Money isn't everything… but it ranks right up there with oxygen.

Our job is not to set things right but to see them right.

Our job is not to set things right but to see them right.

If your desires be endless, your cares and fears will be so too.

If your desires be endless, your cares and fears will be so too.

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.