It is your mind that matters economically, as much or more than your mouth or hands. In the long run, the most important economic effect of population size and growth is the contribution of additional people to our stock of useful knowledge. And this contribution is large enough in the long run to overcome all the costs of population growth.
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Location, location, location.
Location, location, location.
What matters is not the allocation of portions out of a fund presented to man by nature. The problem is read more
What matters is not the allocation of portions out of a fund presented to man by nature. The problem is rather to further those social institutions which enable people to continue and to enlarge the production of all those things which they need.
Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to read more
Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to be set higher or lower than it would be otherwise. It represents a net lose to the economy as a whole to the extent that many transactions do not take place at all, because the mutually acceptable possibilities have been reduced.
An economist's guess is liable to be as good as anybody else's.
An economist's guess is liable to be as good as anybody else's.
A man's indebtedness is not virtue; his repayment is. Virtue begins when he dedicates himself actively to the job of read more
A man's indebtedness is not virtue; his repayment is. Virtue begins when he dedicates himself actively to the job of gratitude.
The rich swell up with pride, the poor from hunger.
The rich swell up with pride, the poor from hunger.
Having more money does not insure happiness. People with ten million dollars are no happier than people with nine million read more
Having more money does not insure happiness. People with ten million dollars are no happier than people with nine million dollars.
Capitalists are motivated not chiefly by the desire to consume wealth or indulge their appetites, but by the freedom and read more
Capitalists are motivated not chiefly by the desire to consume wealth or indulge their appetites, but by the freedom and power to consummate their entrepreneurial ideas.
My riches consist not in the extent of my possessions, but in the fewness of my wants.
My riches consist not in the extent of my possessions, but in the fewness of my wants.
