Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to read more

Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to be set higher or lower than it would be otherwise. It represents a net lose to the economy as a whole to the extent that many transactions do not take place at all, because the mutually acceptable possibilities have been reduced.

It is impossible to understand the history of economic thought if one does not pay attention to the fact that read more

It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power.

Commerce is the cure for the most destructive prejudices.

Commerce is the cure for the most destructive prejudices.

There are only two lasting bequests we can hope to give our children. One of these is roots, the other, read more

There are only two lasting bequests we can hope to give our children. One of these is roots, the other, wings.

It is the duty of a good shepherd to shear his sheep, not to skin them.

It is the duty of a good shepherd to shear his sheep, not to skin them.

Every company's greatest assets are its customers, because without customers there is no company.

Every company's greatest assets are its customers, because without customers there is no company.

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded- here and there, read more

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded- here and there, now and then- are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.This is known as "bad luck.".

Entrepreneurship is the last refuge of the trouble making individual.

Entrepreneurship is the last refuge of the trouble making individual.

We are now in the third stage of the industrial revolution. The first involved machines which extended human muscle; the read more

We are now in the third stage of the industrial revolution. The first involved machines which extended human muscle; the second used machines to extend the human nervous system (radio, television, telephones); the third is now utilizing machines which extend the human mind-computers. About half of all service workers (43 percent of the labor force by 2000) will be involved in collecting, analyzing, synthesizing, structuring, storing, or retrieving information... By 1995, 80 percent of all management will be "knowledge workers.".