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.

...we see that there are two different kinds of...societies: (a) parasitic societies and (b) producing societies. The former are those read more

...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.

Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to read more

Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to tell people what ends they should aim at. It is a science of the means to be applied for attainment of ends chosen, not, to be sure, a science of the choosing of ends. Ultimate decisions, the valuations and the choosing of ends, are beyond the scope of any science. Science never tells a man how he should act; it merely shows how a man must act if he wants to attain definite ends.

Frankly, I don't want to see a rapid upturn. I want it to hold until some of these idiotic competitors read more

Frankly, I don't want to see a rapid upturn. I want it to hold until some of these idiotic competitors go bust.

What matters is not the allocation of portions out of a fund presented to man by nature. The problem is read more

What matters is not the allocation of portions out of a fund presented to man by nature. The problem is rather to further those social institutions which enable people to continue and to enlarge the production of all those things which they need.

I have probably purchased fifty 'hot tips' in my career, maybe even more. When I put them all together, I read more

I have probably purchased fifty 'hot tips' in my career, maybe even more. When I put them all together, I know I am a net loser.

Money is better than poverty, if only for financial reasons.

Money is better than poverty, if only for financial reasons.

The 1990s customer expects service to be characterized by fast and efficient computer-based systems.

The 1990s customer expects service to be characterized by fast and efficient computer-based systems.

Debt is the worst poverty.

Debt is the worst poverty.