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.

Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'.

Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'.

It takes all the fun out of a bracelet if you have to buy it yourself.

It takes all the fun out of a bracelet if you have to buy it yourself.

I wake up every morning and thank God I’m not a chartered accountant any longer, but involved with property.

I wake up every morning and thank God I’m not a chartered accountant any longer, but involved with property.

Since man does not create physical matter, those who handle material objects in the production process are not producers in read more

Since man does not create physical matter, those who handle material objects in the production process are not producers in that sense. Economic benefits result from the transformation of matter in form, location, or availability (intellectually or temporally). It is these transformations that create economic benefits valued by consumers, and whoever arranges such transformations contributes to the value of things, whether his hands actually come into contact with physical objects or not.

If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the read more

If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the mantle of national interest is the last refuge of the economically dispossessed. In economic terms, pleading national interest is the declining cottage industry of those who have been bypassed by the global economy.

Many of the products which create a modern standard of living are only the physical incorporations of ideas- not only read more

Many of the products which create a modern standard of living are only the physical incorporations of ideas- not only the ideas of an Edison or a Ford but the ideas of innumerable anonymous people who figure out the design of supermarkets, the location of gasoline stations, and the million mundane things on which our material well-being depends. Societies which have more people carrying out physical acts and fewer people supplying ideas do not have higher standards of living. Quite the contrary.

Sudden money is going from zero to two hundred dollars a week. The rest doesn't count.

Sudden money is going from zero to two hundred dollars a week. The rest doesn't count.

Above all, we wish to avoid having a dissatisfied customer. We consider our customers a part of our organization, and read more

Above all, we wish to avoid having a dissatisfied customer. We consider our customers a part of our organization, and we want them to feel free to make any criticism they see fit in regard to our merchandise or service. Sell practical, tested merchandise at reasonable profit, treat your customers like human beings -- and they will always come back.