Money isn't everything… but it ranks right up there with oxygen.

Money isn't everything… but it ranks right up there with oxygen.

You cannot have the success without the failures.

You cannot have the success without the failures.

For me, hard work represents the supreme luxury of life.

For me, hard work represents the supreme luxury of life.

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

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

The increase in the world's population represents our victory against death...

The increase in the world's population represents our victory against death...

Forty for you, sixty for me And equal partners we will be.

Forty for you, sixty for me And equal partners we will be.

The trouble with being poor is that it takes up all your time.

The trouble with being poor is that it takes up all your time.

A consumer is a shopper who is sore about something.

A consumer is a shopper who is sore about something.

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.