There is no substitute for accurate knowledge. Know yourself, know your business, know your men.

There is no substitute for accurate knowledge. Know yourself, know your business, know your men.

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.

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.

Gifts, believe me, captivate both men and Gods, Jupiter himself was won over and appeased by gifts.

Gifts, believe me, captivate both men and Gods, Jupiter himself was won over and appeased by gifts.

Make sure you want it enough.

Make sure you want it enough.

Anybody can cut prices, but it takes brains to produce a better article.

Anybody can cut prices, but it takes brains to produce a better article.

It is time that financial types developed a greater tolerance for imprecision, because that’s the way the world is.

It is time that financial types developed a greater tolerance for imprecision, because that’s the way the world is.

A market is the combined behavior of thousands of people responding to information, misinformation and whim.

A market is the combined behavior of thousands of people responding to information, misinformation and whim.

Only positive consequences encourage good future performances.

Only positive consequences encourage good future performances.