Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price read more

Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price represents an opportunity that leads inventors and businesspeople to seek new ways to satisfy the shortages. Some fail, at cost to themselves. A few succeed, and the final result is that we end up better off than if the original shortage problems had never arisen. That is, we need our problems, though this does not imply that we should purposely create additional problems for ourselves.

Goodwill is the one and only asset that competition cannot undersell or destroy.

Goodwill is the one and only asset that competition cannot undersell or destroy.

The entire essence of America is the hope to first make money -- then make money with money -- then read more

The entire essence of America is the hope to first make money -- then make money with money -- then make lots of money with lots of money.

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information read more

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated.

The politicians don't just want your money. They want your soul. They want you to be worn down by taxes read more

The politicians don't just want your money. They want your soul. They want you to be worn down by taxes until you are dependent and helpless. When you subsidize poverty and failure, you get more of both.

Commerce is the cure for the most destructive prejudices.

Commerce is the cure for the most destructive prejudices.

A market is the combined behavior of thousands of people responding to information, misinformation and whim.

A market is the combined behavior of thousands of people responding to information, misinformation and whim.

The employer generally gets the employees he deserves.

The employer generally gets the employees he deserves.

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.