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    Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price represents an opportunity that leads inventors and businesspeople to seek new ways to satisfy the shortages. Some fail, at cost to themselves. A few succeed, and the final result is that we end up better off than if the original shortage problems had never arisen. That is, we need our problems, though this does not imply that we should purposely create additional problems for ourselves.

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  32  /  30  

We live in a time of transition, an uneasy era which is likely to endure for the rest of this read more

We live in a time of transition, an uneasy era which is likely to endure for the rest of this century. During the period we may be tempted to abandon some of the time-honored principles and commitments which have been proven during the difficult times of past generations. We must never yield to this temptation. Our American values are not luxuries, but necessities - not the salt in our bread, but the bread itself.
in his farewell address.

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  18  /  30  

The first condition for the establishment of perpetual peace is the general adoption of the principles of laissez-faire capitalism.

The first condition for the establishment of perpetual peace is the general adoption of the principles of laissez-faire capitalism.

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Don't buy the house, buy the neighborhood.

Don't buy the house, buy the neighborhood.

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It's not the bulls and bears you need to avoid -- it's the bum steers.

It's not the bulls and bears you need to avoid -- it's the bum steers.

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Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'.

Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'.

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When we are in competition with ourselves, and match our todays against our yesterdays, we derive encouragement from past misfortunes read more

When we are in competition with ourselves, and match our todays against our yesterdays, we derive encouragement from past misfortunes and blemishes. Moreover, the competition with ourselves leaves unimpaired our benevolence toward our fellow men.

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Concentrate your strengths against your competitor's relative weaknesses.

Concentrate your strengths against your competitor's relative weaknesses.

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Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it. read more

Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it. - "Modern Maturity Magazine, Jan/Feb 1995".

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Hire the best. Pay them fairly. Communicate frequently. Provide challenges and rewards. Believe in them. Get out of their way read more

Hire the best. Pay them fairly. Communicate frequently. Provide challenges and rewards. Believe in them. Get out of their way and they'll knock your socks off.

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