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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Many of the products which create a modern standard of living are only the physical incorporations of ideas- not only read more
Many of the products which create a modern standard of living are only the physical incorporations of ideas- not only the ideas of an Edison or a Ford but the ideas of innumerable anonymous people who figure out the design of supermarkets, the location of gasoline stations, and the million mundane things on which our material well-being depends. Societies which have more people carrying out physical acts and fewer people supplying ideas do not have higher standards of living. Quite the contrary.
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.
What pays under capitalism is satisfying the common man, the customer. The more people you satisfy, the better for you.
What pays under capitalism is satisfying the common man, the customer. The more people you satisfy, the better for you.
Every few seconds it changes - up an eighth, down an eighth - it's like playing a slot machine. I read more
Every few seconds it changes - up an eighth, down an eighth - it's like playing a slot machine. I lose $20 million, I gain $20 million.
Worry about being better; bigger will take care of itself. Think one customer at a time and take care of read more
Worry about being better; bigger will take care of itself. Think one customer at a time and take care of each one the best way you can.
Every company's greatest assets are its customers, because without customers there is no company.
Every company's greatest assets are its customers, because without customers there is no company.
Every day I get up and look through the Forbes list of the richest people in America. If I'm not read more
Every day I get up and look through the Forbes list of the richest people in America. If I'm not there, I go to work.
The Trojans lost the war because they fell for a really dumb trick. hey, there's a gigantic wooden horse outside read more
The Trojans lost the war because they fell for a really dumb trick. hey, there's a gigantic wooden horse outside and all the Greeks have left. Let's bring it inside! Not a formula for long-term survival. Now if they had formed a task force to study the Trojan Horse and report back to a committee, everyone wouldn't have been massacred.. Who says middle management is useless?
Ask five economists and you'll get five different answers (six if one went to Harvard).
Ask five economists and you'll get five different answers (six if one went to Harvard).
