Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to tell people what ends they should aim at. It is a science of the means to be applied for attainment of ends chosen, not, to be sure, a science of the choosing of ends. Ultimate decisions, the valuations and the choosing of ends, are beyond the scope of any science. Science never tells a man how he should act; it merely shows how a man must act if he wants to attain definite ends.
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If all the economists were laid end to end, they'd never reach a conclusion.
If all the economists were laid end to end, they'd never reach a conclusion.
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].
Avarice is the vice of declining years.
Avarice is the vice of declining years.
Bulls make money. Bears make money. Pigs get slaughtered.
Bulls make money. Bears make money. Pigs get slaughtered.
It is surprising, in the welter of questions that one gets at (AGMs), how few actually relate to the performance read more
It is surprising, in the welter of questions that one gets at (AGMs), how few actually relate to the performance of the company, or the decisions taken by the board in particular areas.
Finance is the art of passing currency from hand to hand until it finally disappears.
Finance is the art of passing currency from hand to hand until it finally disappears.
Capitalists are motivated not chiefly by the desire to consume wealth or indulge their appetites, but by the freedom and read more
Capitalists are motivated not chiefly by the desire to consume wealth or indulge their appetites, but by the freedom and power to consummate their entrepreneurial ideas.
Every individual is the architect of his own fortune.
Every individual is the architect of his own fortune.
