Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements read more

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.

Managers have traditionally developed the skills in finance, planning, marketing and production techniques. Too often the relationships with their people read more

Managers have traditionally developed the skills in finance, planning, marketing and production techniques. Too often the relationships with their people have been assigned a secondary role. This is too important a subject not to receive first line attention.

The budget evolved from a management tool into an obstacle to management.

The budget evolved from a management tool into an obstacle to management.

Capital can do nothing without brains to direct it.

Capital can do nothing without brains to direct it.

Ask five economists and you'll get five different answers (six if one went to Harvard).

Ask five economists and you'll get five different answers (six if one went to Harvard).

Every day is a gift- even if it sucks.

Every day is a gift- even if it sucks.

The five essential entrepreneurial skills for success: Concentration, Discrimination, Organization, Innovation and Communication.

The five essential entrepreneurial skills for success: Concentration, Discrimination, Organization, Innovation and Communication.

The essence of wealth is the capacity to control the forces of nature, and the extent of wealth depends upon read more

The essence of wealth is the capacity to control the forces of nature, and the extent of wealth depends upon the level of technology and the ability to create new knowledge.

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.