Above all, we wish to avoid having a dissatisfied customer. We consider our customers a part of our organization, and we want them to feel free to make any criticism they see fit in regard to our merchandise or service. Sell practical, tested merchandise at reasonable profit, treat your customers like human beings -- and they will always come back.
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The manager with the in basket problem does not yet understand that he must discipline himself to take care of read more
The manager with the in basket problem does not yet understand that he must discipline himself to take care of activities that fail to excite him.
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.
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.
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 essence of wealth is the capacity to control the forces of nature, and the extent of wealth depends upon read more
The essence of wealth is the capacity to control the forces of nature, and the extent of wealth depends upon the level of technology and the ability to create new knowledge.
The financial climate is the worst it's been in 25 years.
The financial climate is the worst it's been in 25 years.
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.
In all recorded history there has not been one economist who has had to worry about where the next meal read more
In all recorded history there has not been one economist who has had to worry about where the next meal would come from.
Entrepreneurship is the last refuge of the trouble making individual.
Entrepreneurship is the last refuge of the trouble making individual.
