Today is a... digital incarnation of Oz - the Internet - we are a motley group of fools from lions read more

Today is a... digital incarnation of Oz - the Internet - we are a motley group of fools from lions to scarecrows, learning from each other, making and taking responsibility for our decisions, and having fun as we skip down the yellow brick road of investing together!

Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price read more

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.

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

Worry about being better; bigger will take care of itself. Think one customer at a time and take care of read more

Worry about being better; bigger will take care of itself. Think one customer at a time and take care of each one the best way you can.

If you're not serving the customer, you'd better be serving someone who is.

If you're not serving the customer, you'd better be serving someone who is.

We may not be able to offer long-term employment, but we should try to offer long-term employability.

We may not be able to offer long-term employment, but we should try to offer long-term employability.

When your work speaks for itself, don't interrupt.

When your work speaks for itself, don't interrupt.

The "human condition" is always to push forward for the better and economics is the study of that process.

The "human condition" is always to push forward for the better and economics is the study of that process.

If all the economists were laid end to end, they'd never reach a conclusion.

If all the economists were laid end to end, they'd never reach a conclusion.