You cannot have the success without the failures.

You cannot have the success without the failures.

Money may kindle, but it cannot by itself, and for very long, burn.

Money may kindle, but it cannot by itself, and for very long, burn.

Money is a terrible master but an excellent servant.

Money is a terrible master but an excellent servant.

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.

Economics is not about things and tangible material objects; it is about men, their meanings and actions.

Economics is not about things and tangible material objects; it is about men, their meanings and actions.

One rose says more than the dozen.

One rose says more than the dozen.

...we see that there are two different kinds of...societies: (a) parasitic societies and (b) producing societies. The former are those read more

...we see that there are two different kinds of...societies: (a) parasitic societies and (b) producing societies. The former are those which live from hunting, fishing, or merely gleaning. By their economic activities they do not increase, but rather decrease, the amount of wealth in the world. The second kind of societies, producing societies, live by agricultural and pastoral activities. By these activities they seek to increase the amount of wealth in the world.

Concentrate your strengths against your competitor's relative weaknesses.

Concentrate your strengths against your competitor's relative weaknesses.

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements read more

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.