The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer read more

The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer classes have adopted a certain way of living, producers have an incentive to improve the methods of manufacture so that soon it is possible for the poorer classes to follow suit. Thus luxury furthers progress. Innovation "is the whim of an elite before it becomes a need of the public. The luxury today is the necessity of tomorrow." Luxury is the roadmaker of progress: it develops latent needs and makes people discontented. In so far as they think consistently, moralists who condemn luxury must recommend the comparatively desireless existence of the wild life roaming in the woods as the ultimate ideal of civilized life.

The promise of yesterday are the taxes of today.

The promise of yesterday are the taxes of today.

The only thing money gives you is the freedom of not worrying about money.

The only thing money gives you is the freedom of not worrying about money.

It is your mind that matters economically, as much or more than your mouth or hands. In the long run, read more

It is your mind that matters economically, as much or more than your mouth or hands. In the long run, the most important economic effect of population size and growth is the contribution of additional people to our stock of useful knowledge. And this contribution is large enough in the long run to overcome all the costs of population growth.

Money doesn't talk, it swears.

Money doesn't talk, it swears.

American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility read more

American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility that the two are connected.

Entrepreneurship is the last refuge of the trouble making individual.

Entrepreneurship is the last refuge of the trouble making individual.

If your desires be endless, your cares and fears will be so too.

If your desires be endless, your cares and fears will be so too.

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.