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Economics is not about things and tangible material objects; it is about men, their meanings and actions.
Economics is not about things and tangible material objects; it is about men, their meanings and actions.
By desiring little, a poor man makes himself rich.
By desiring little, a poor man makes himself rich.
Managing directors are not paid to be busy, they are paid to think.
Managing directors are not paid to be busy, they are paid to think.
Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. And read more
Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. And when a person does not understand the creation of resources and wealth, the only intellectual alternative is to believe that increasing wealth must be at the cost of someone else. This belief that our good fortune must be an exploitation of others may be the taproot of false prophecy about doom that our evil ways must bring upon us.
What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand read more
What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand what the customer is doing as well as he understands it. Then you build what he needs and you educate him to the fact that he needs it.
As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.
As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.
If you do it right 51 percent of the time you will end up a hero.
If you do it right 51 percent of the time you will end up a hero.
I don't want to do business with those who don't make a profit, because they can't give the best service.
I don't want to do business with those who don't make a profit, because they can't give the best service.
If we devote our time disparaging the products of our business rivals, we hurt business generally, reduce confidence, and increase read more
If we devote our time disparaging the products of our business rivals, we hurt business generally, reduce confidence, and increase discontent.
