Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.
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A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
Money may kindle, but it cannot by itself, and for very long, burn.
Money may kindle, but it cannot by itself, and for very long, burn.
If you do it right 51 percent of the time you will end up a hero.
If you do it right 51 percent of the time you will end up a hero.
I figure you have the same chance of winning the lottery whether you play or not.
I figure you have the same chance of winning the lottery whether you play or not.
Commerce is the cure for the most destructive prejudices.
Commerce is the cure for the most destructive prejudices.
You don't manage people; you manage things. You lead people.
You don't manage people; you manage things. You lead people.
If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the read more
If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the mantle of national interest is the last refuge of the economically dispossessed. In economic terms, pleading national interest is the declining cottage industry of those who have been bypassed by the global economy.
We don't want to push our ideas on to customers, we simply want to make what they want.
We don't want to push our ideas on to customers, we simply want to make what they want.
What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us read more
What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us in time of war.
