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    The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer classes have adopted a certain way of living, producers have an incentive to improve the methods of manufacture so that soon it is possible for the poorer classes to follow suit. Thus luxury furthers progress. Innovation "is the whim of an elite before it becomes a need of the public. The luxury today is the necessity of tomorrow." Luxury is the roadmaker of progress: it develops latent needs and makes people discontented. In so far as they think consistently, moralists who condemn luxury must recommend the comparatively desireless existence of the wild life roaming in the woods as the ultimate ideal of civilized life.

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What pays under capitalism is satisfying the common man, the customer. The more people you satisfy, the better for you.

What pays under capitalism is satisfying the common man, the customer. The more people you satisfy, the better for you.

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The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a read more

The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a competition in the grabbing off of scarce nature-given supplies, as it is in the animal kingdom. Rather, it is a competition in the positive creation of new and additional wealth.

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All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implicitly pay homage to read more

All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implicitly pay homage to it by passionately clamoring for the products it turns out.

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Some great men owe most of their greatness to the ability of detecting in those they destine for their tools read more

Some great men owe most of their greatness to the ability of detecting in those they destine for their tools the exact quality of strength that matters for their work.

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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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The most important benefit of population size and growth is the increase it brings to the stock of useful knowledge. read more

The most important benefit of population size and growth is the increase it brings to the stock of useful knowledge. Minds matter economically as much as, or more than, hands or mouths.

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Our whole evolution up to this point shows that human groups spontaneously evolve patterns of behavior, as well as patterns read more

Our whole evolution up to this point shows that human groups spontaneously evolve patterns of behavior, as well as patterns of training people for that behavior, which tend on balance to lead people to create rather than destroy. Humans are, on net balance, builders rather than destroyers.

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You read a book from beginning to end. You run a business the opposite way. You start with the end, read more

You read a book from beginning to end. You run a business the opposite way. You start with the end, and then you do everything you must to reach it.

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Competition on the market aims at assigning to every individual that function in the social system in which he can read more

Competition on the market aims at assigning to every individual that function in the social system in which he can render to all his fellow men the most valuable of the services he is able to perform.

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