...we see that there are two different kinds of...societies: (a) parasitic societies and (b) producing societies. The former are those which live from hunting, fishing, or merely gleaning. By their economic activities they do not increase, but rather decrease, the amount of wealth in the world. The second kind of societies, producing societies, live by agricultural and pastoral activities. By these activities they seek to increase the amount of wealth in the world.
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The morality of compromise' sounds contradictory. Compromise is usually a sign of weakness, or an admission of defeat. Strong men read more
The morality of compromise' sounds contradictory. Compromise is usually a sign of weakness, or an admission of defeat. Strong men don't compromise, it is said, and principles should never be compromised. I shall argue that strong men, conversely, know when to compromise and that all principles can be compromised to serve a greater principle.
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.
No one has a greater asset for his business than a man's pride in his work.
No one has a greater asset for his business than a man's pride in his work.
Business, that's easily defined; it's other people's money.
Business, that's easily defined; it's other people's money.
Hire the best. Pay them fairly. Communicate frequently. Provide challenges and rewards. Believe in them. Get out of their way read more
Hire the best. Pay them fairly. Communicate frequently. Provide challenges and rewards. Believe in them. Get out of their way and they'll knock your socks off.
Money isn't everything… but it ranks right up there with oxygen.
Money isn't everything… but it ranks right up there with oxygen.
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.
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.
The tougher the job, the greater the reward.
The tougher the job, the greater the reward.
