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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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.
Usually the greatest boasters are the smallest workers. The deep rivers pay a larger tribute to the sea than shallow read more
Usually the greatest boasters are the smallest workers. The deep rivers pay a larger tribute to the sea than shallow brooks, and yet empty themselves with less noise.
Sell cheap and tell the truth.
Sell cheap and tell the truth.
Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell read more
Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it.
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.
Wealth maketh many friends. [Proverbs 19:4].
Wealth maketh many friends. [Proverbs 19:4].
Capitalists are motivated not chiefly by the desire to consume wealth or indulge their appetites, but by the freedom and read more
Capitalists are motivated not chiefly by the desire to consume wealth or indulge their appetites, but by the freedom and power to consummate their entrepreneurial ideas.
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.
It is impossible to understand the history of economic thought if one does not pay attention to the fact that read more
It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power.
