We live in a time of transition, an uneasy era which is likely to endure for the rest of this read more

We live in a time of transition, an uneasy era which is likely to endure for the rest of this century. During the period we may be tempted to abandon some of the time-honored principles and commitments which have been proven during the difficult times of past generations. We must never yield to this temptation. Our American values are not luxuries, but necessities - not the salt in our bread, but the bread itself.
in his farewell address.

The greatest productive force is human selfishness.

The greatest productive force is human selfishness.

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.

I made my money by selling too soon.

I made my money by selling too soon.

The problem with the person who thinks he's a long-term investor and impervious to short-term gyrations is that the emotion read more

The problem with the person who thinks he's a long-term investor and impervious to short-term gyrations is that the emotion of fear and pain will eventually make him sell badly.

Economics is first and foremost about the thoughts leading up to choice.

Economics is first and foremost about the thoughts leading up to choice.

You cannot have the success without the failures.

You cannot have the success without the failures.

What pays under capitalism is satisfying the common man, the customer. The more people you satisfy, the better for you.

What pays under capitalism is satisfying the common man, the customer. The more people you satisfy, the better for you.

If you can run one business well, you can run any business well.

If you can run one business well, you can run any business well.