We do not hear the term "compassionate" applied to business executives or entrepreneurs, certainly not when they are engaged in their normal work. Yet in terms of results in the measurable form of jobs created, lives enriched, communities built, living standards raised, and poverty healed, a handful of capitalists has done infinitely more for mankind than all the self-serving politicians, academics, social workers, and religionists who march under the banner of "compassion".
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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.
Bulls make money. Bears make money. Pigs get slaughtered.
Bulls make money. Bears make money. Pigs get slaughtered.
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.
Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. And read more
Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. And when a person does not understand the creation of resources and wealth, the only intellectual alternative is to believe that increasing wealth must be at the cost of someone else. This belief that our good fortune must be an exploitation of others may be the taproot of false prophecy about doom that our evil ways must bring upon us.
The highest use of capital is not to make more money, but to make money do more for the betterment read more
The highest use of capital is not to make more money, but to make money do more for the betterment of life.
The herd instinct among forecasters makes sheep look like independent thinkers.
The herd instinct among forecasters makes sheep look like independent thinkers.
In a trader-dominated society, the scribe is usually kept out of the management of affairs, but it given a more read more
In a trader-dominated society, the scribe is usually kept out of the management of affairs, but it given a more or less free hand in the cultural field. By frustrating the scribe's craving for commanding action, the trader draws upon himself the scribe's wrath and scorn.
The worst crime against working people is a company which fails to operate at a profit.
The worst crime against working people is a company which fails to operate at a profit.
We are now in the third stage of the industrial revolution. The first involved machines which extended human muscle; the read more
We are now in the third stage of the industrial revolution. The first involved machines which extended human muscle; the second used machines to extend the human nervous system (radio, television, telephones); the third is now utilizing machines which extend the human mind-computers. About half of all service workers (43 percent of the labor force by 2000) will be involved in collecting, analyzing, synthesizing, structuring, storing, or retrieving information... By 1995, 80 percent of all management will be "knowledge workers.".
