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.
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We are now in the third stage of the industrial revolution. The first involved machines which extended human muscle; the read more
We are now in the third stage of the industrial revolution. The first involved machines which extended human muscle; the second used machines to extend the human nervous system (radio, television, telephones); the third is now utilizing machines which extend the human mind-computers. About half of all service workers (43 percent of the labor force by 2000) will be involved in collecting, analyzing, synthesizing, structuring, storing, or retrieving information... By 1995, 80 percent of all management will be "knowledge workers.".
What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us read more
What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us in time of war.
...it is solely bigness in business which makes it possible to supply the masses with all those products the present-day read more
...it is solely bigness in business which makes it possible to supply the masses with all those products the present-day American common man does not want to do without. Luxury goods for the few can be produced in small shops. Luxury goods for the many require big business.
I am indeed rich, since my income is superior to my expense, and my expense is equal to my wishes.
I am indeed rich, since my income is superior to my expense, and my expense is equal to my wishes.
If money be not they servant, it will be thy master. The covetous man cannot so properly be said to read more
If money be not they servant, it will be thy master. The covetous man cannot so properly be said to possess wealth, as that may be said to possess him.
It is impossible to understand the history of economic thought if one does not pay attention to the fact that read more
It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power.
If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the read more
If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the mantle of national interest is the last refuge of the economically dispossessed. In economic terms, pleading national interest is the declining cottage industry of those who have been bypassed by the global economy.
My father taught me to work; he did not teach me to love it.
My father taught me to work; he did not teach me to love it.
A computer will not make a good manager out of a bad manager. It makes a good manager better faster read more
A computer will not make a good manager out of a bad manager. It makes a good manager better faster and a bad manager worse faster.
