Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to tell people what ends they should aim at. It is a science of the means to be applied for attainment of ends chosen, not, to be sure, a science of the choosing of ends. Ultimate decisions, the valuations and the choosing of ends, are beyond the scope of any science. Science never tells a man how he should act; it merely shows how a man must act if he wants to attain definite ends.
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Don't try to buy at the bottom and sell at the top. It can't be done except by liars.
Don't try to buy at the bottom and sell at the top. It can't be done except by liars.
All mass movements avail themselves of action as a means of unification. The conflicts a mass movement seeks and incites read more
All mass movements avail themselves of action as a means of unification. The conflicts a mass movement seeks and incites serve not only to down its enemies but also to strip its followers of their distinct individuality and render them more soluble in the collective medium.
Budgets are for cutting, that's why you set them.
Budgets are for cutting, that's why you set them.
If your outgo exceeds your income, then your upkeep will be your downfall.
If your outgo exceeds your income, then your upkeep will be your downfall.
The herd instinct among forecasters makes sheep look like independent thinkers.
The herd instinct among forecasters makes sheep look like independent thinkers.
There are two things needed in these days; first, for rich men to find out how poor men live; and read more
There are two things needed in these days; first, for rich men to find out how poor men live; and second, for poor men to know how rich men work.
Wealth, howsoever got, in England makes lords of mechanics, gentlemen of rakes; Antiquity and birth are needless here; 'Tis impudence read more
Wealth, howsoever got, in England makes lords of mechanics, gentlemen of rakes; Antiquity and birth are needless here; 'Tis impudence and money makes a peer.
Our supplies of natural resources are not finite in any economic sense. Nor does past experience give reason to expect read more
Our supplies of natural resources are not finite in any economic sense. Nor does past experience give reason to expect natural resources to become more scarce. Rather, if history is any guide, natural resources will progressively become less costly, hence less scarce, and will constitute a smaller proportion of our expenses in future years.
What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand read more
What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand what the customer is doing as well as he understands it. Then you build what he needs and you educate him to the fact that he needs it.
