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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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The essence of wealth is the capacity to control the forces of nature, and the extent of wealth depends upon read more

The essence of wealth is the capacity to control the forces of nature, and the extent of wealth depends upon the level of technology and the ability to create new knowledge.

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It is time that financial types developed a greater tolerance for imprecision, because that’s the way the world is.

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The world does not pay for what a person knows, but it pays for what a person does with what read more

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Few great men could pass personal.

Few great men could pass personal.

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Uncle claims that if he files his income tax wrong he'll go to jail, and if he files it right read more

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Energetic action on debt would make a radical difference to the prospects of many of the poorest countries in the read more

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I made my money by selling too soon.

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Nothing hurts more than having to pay an income tax, unless it is not having to pay an income tax.

Nothing hurts more than having to pay an income tax, unless it is not having to pay an income tax.

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As a manager the important thing is not what happens when you are there, but what happens when you are read more

As a manager the important thing is not what happens when you are there, but what happens when you are not there.

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