Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price read more

Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price represents an opportunity that leads inventors and businesspeople to seek new ways to satisfy the shortages. Some fail, at cost to themselves. A few succeed, and the final result is that we end up better off than if the original shortage problems had never arisen. That is, we need our problems, though this does not imply that we should purposely create additional problems for ourselves.

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.

Every individual is the architect of his own fortune.

Every individual is the architect of his own fortune.

If you have to forecast, forecast often.

If you have to forecast, forecast often.

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

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

The difference between tax avoidance and tax evasion is the thickness of a prison wall.

The difference between tax avoidance and tax evasion is the thickness of a prison wall.

Prosperity is living easily and happily in the real world, whether you have money or not.

Prosperity is living easily and happily in the real world, whether you have money or not.

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.

Entrepreneurship is the last refuge of the trouble making individual.

Entrepreneurship is the last refuge of the trouble making individual.