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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.
Capitalism needs to function like a game of tug-of-war. Two opposing sides need to continually struggle for dominance, but at read more
Capitalism needs to function like a game of tug-of-war. Two opposing sides need to continually struggle for dominance, but at no time can either side be permitted to walk away with the rope.
Competition on the market aims at assigning to every individual that function in the social system in which he can read more
Competition on the market aims at assigning to every individual that function in the social system in which he can render to all his fellow men the most valuable of the services he is able to perform.
I work in a strange business, and trust is a word that's not even in the vocabulary.
I work in a strange business, and trust is a word that's not even in the vocabulary.
Based on first-hand evidence of your own senses - the improved health and later ages at which acquaintances die nowadays read more
Based on first-hand evidence of your own senses - the improved health and later ages at which acquaintances die nowadays as compared with the past; the material goods that we now possess; the speed at which information, entertainment, and we ourselves move freely throughout the world - it seems to me that a person must be literally deaf and blind not to perceive that humanity is in a much better state than ever before.
A man's indebtedness is not virtue; his repayment is. Virtue begins when he dedicates himself actively to the job of read more
A man's indebtedness is not virtue; his repayment is. Virtue begins when he dedicates himself actively to the job of gratitude.
Budgets are for cutting, that's why you set them.
Budgets are for cutting, that's why you set them.
The employer generally gets the employees he deserves.
The employer generally gets the employees he deserves.
Money is better than poverty, if only for financial reasons.
Money is better than poverty, if only for financial reasons.
