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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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  11  /  16  

...the only means to well-being is to increase the quantity of products. This is what business aims at.

...the only means to well-being is to increase the quantity of products. This is what business aims at.

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  19  /  23  

The principles applied in economic processes are general social principles.

The principles applied in economic processes are general social principles.

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  24  /  35  

Entrepreneurship is the last refuge of the trouble making individual.

Entrepreneurship is the last refuge of the trouble making individual.

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  19  /  14  

I do not regard a broker as a member of the human race.

I do not regard a broker as a member of the human race.

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  30  /  22  

Money never starts an idea; it is the idea that starts the money.

Money never starts an idea; it is the idea that starts the money.

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  49  /  33  

By desiring little, a poor man makes himself rich.

By desiring little, a poor man makes himself rich.

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Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to read more

Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to be set higher or lower than it would be otherwise. It represents a net lose to the economy as a whole to the extent that many transactions do not take place at all, because the mutually acceptable possibilities have been reduced.

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  17  /  21  

The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually read more

The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually by governmental activity.

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Don't buy the house, buy the neighborhood.

Don't buy the house, buy the neighborhood.

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