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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.
The boss must first distinguish between action information and status information. He must discipline himself not to act on problems read more
The boss must first distinguish between action information and status information. He must discipline himself not to act on problems his managers can solve, and never to act on problems when he is explicitly reviewing status. I once knew a boss who invariably picked up the phone to give orders before the end of the first paragraph in a status report. That response is guaranteed to squelch full disclosure.
Wealth maketh many friends. [Proverbs 19:4].
Wealth maketh many friends. [Proverbs 19:4].
I don't even get an allowance.
I don't even get an allowance.
A rich man is nothing but a poor man with money.
A rich man is nothing but a poor man with money.
Our job is not to set things right but to see them right.
Our job is not to set things right but to see them right.
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).
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.
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.
