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.
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The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a read more
The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a competition in the grabbing off of scarce nature-given supplies, as it is in the animal kingdom. Rather, it is a competition in the positive creation of new and additional wealth.
Economics is first and foremost about the thoughts leading up to choice.
Economics is first and foremost about the thoughts leading up to choice.
The increase in the world's population represents our victory against death...
The increase in the world's population represents our victory against death...
The boss must first distinguish between action information and status information. He must discipline himself not to act on problems read more
The boss must first distinguish between action information and status information. He must discipline himself not to act on problems his managers can solve, and never to act on problems when he is explicitly reviewing status. I once knew a boss who invariably picked up the phone to give orders before the end of the first paragraph in a status report. That response is guaranteed to squelch full disclosure.
Only positive consequences encourage good future performances.
Only positive consequences encourage good future performances.
I've been promoted to middle management. I never thought I'd sink so low.
I've been promoted to middle management. I never thought I'd sink so low.
There is no glory in outstripping donkeys.
There is no glory in outstripping donkeys.
If you love your customer to death, you can't go wrong.
If you love your customer to death, you can't go wrong.
The promise of yesterday are the taxes of today.
The promise of yesterday are the taxes of today.
