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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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  17  /  30  

The City's reluctance to take a stand on an issue like the British Gas pay row makes a mockery of read more

The City's reluctance to take a stand on an issue like the British Gas pay row makes a mockery of corporate governance and shareholders' ability to influence annual general meetings. Institutions should be obliged to make public how they vote at such events. They should be obliged to provide customers with a record of how they vote on every kind of issue.

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Whoever originated the cliche that money is the root of all evil knew hardly anything about the nature of evil read more

Whoever originated the cliche that money is the root of all evil knew hardly anything about the nature of evil and very little about human beings.

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The principles applied in economic processes are general social principles.

The principles applied in economic processes are general social principles.

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Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and read more

Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and a great national debt.

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Debt is the worst poverty.

Debt is the worst poverty.

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I made my money by selling too soon.

I made my money by selling too soon.

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Only positive consequences encourage good future performances.

Only positive consequences encourage good future performances.

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A market is the combined behavior of thousands of people responding to information, misinformation and whim.

A market is the combined behavior of thousands of people responding to information, misinformation and whim.

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A bad forgery's the ultimate insult.

A bad forgery's the ultimate insult.

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