It is your mind that matters economically, as much or more than your mouth or hands. In the long run, read more

It is your mind that matters economically, as much or more than your mouth or hands. In the long run, the most important economic effect of population size and growth is the contribution of additional people to our stock of useful knowledge. And this contribution is large enough in the long run to overcome all the costs of population growth.

The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer read more

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.

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.

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

The world does not pay for what a person knows, but it pays for what a person does with what he knows.

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.

High premiums are being paid today not particularly for quality service or long-term building of a business but rather for read more

High premiums are being paid today not particularly for quality service or long-term building of a business but rather for making money quickly, getting rich, and getting out. And that's wrong.

My father taught me to work; he did not teach me to love it.

My father taught me to work; he did not teach me to love it.

Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a read more

Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a free hand left to unknown men who will be the entrepreneurs of tomorrow...

If you have to forecast, forecast often.

If you have to forecast, forecast often.