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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More business is lost every year through neglect than through any other cause.
More business is lost every year through neglect than through any other cause.
Wealth, howsoever got, in England makes lords of mechanics, gentlemen of rakes; Antiquity and birth are needless here; 'Tis impudence read more
Wealth, howsoever got, in England makes lords of mechanics, gentlemen of rakes; Antiquity and birth are needless here; 'Tis impudence and money makes a peer.
What matters is not the allocation of portions out of a fund presented to man by nature. The problem is read more
What matters is not the allocation of portions out of a fund presented to man by nature. The problem is rather to further those social institutions which enable people to continue and to enlarge the production of all those things which they need.
Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and read more
Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and a great national debt.
The five steps in teaching an employee new skills are preparation, explanation, showing, observation and supervision.
The five steps in teaching an employee new skills are preparation, explanation, showing, observation and supervision.
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.".
Our supplies of natural resources are not finite in any economic sense. Nor does past experience give reason to expect read more
Our supplies of natural resources are not finite in any economic sense. Nor does past experience give reason to expect natural resources to become more scarce. Rather, if history is any guide, natural resources will progressively become less costly, hence less scarce, and will constitute a smaller proportion of our expenses in future years.
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.
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.
