It is your mind that matters economically, as much or more than your mouth or hands. In the long run, the most important economic effect of population size and growth is the contribution of additional people to our stock of useful knowledge. And this contribution is large enough in the long run to overcome all the costs of population growth.
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Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a read more
Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a free hand left to unknown men who will be the entrepreneurs of tomorrow...
There is no substitute for accurate knowledge. Know yourself, know your business, know your men.
There is no substitute for accurate knowledge. Know yourself, know your business, know your men.
When we are in competition with ourselves, and match our todays against our yesterdays, we derive encouragement from past misfortunes read more
When we are in competition with ourselves, and match our todays against our yesterdays, we derive encouragement from past misfortunes and blemishes. Moreover, the competition with ourselves leaves unimpaired our benevolence toward our fellow men.
Energetic action on debt would make a radical difference to the prospects of many of the poorest countries in the read more
Energetic action on debt would make a radical difference to the prospects of many of the poorest countries in the world, at no practical cost to creditor countries.
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.
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).
Economics is first and foremost about the thoughts leading up to choice.
Economics is first and foremost about the thoughts leading up to choice.
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.
Don't buy the house, buy the neighborhood.
Don't buy the house, buy the neighborhood.
