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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 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.

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  26  /  25  

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).

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The greatest productive force is human selfishness.

The greatest productive force is human selfishness.

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It is almost as difficult to keep a first class person in a fourth class job, as it is to read more

It is almost as difficult to keep a first class person in a fourth class job, as it is to keep a fourth class person in a first class job.

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Whales only get harpooned when they come to the surface, and turtles can only move forward when they stick their read more

Whales only get harpooned when they come to the surface, and turtles can only move forward when they stick their neck out, but investors face risk no matter what they do.

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All mass movements avail themselves of action as a means of unification. The conflicts a mass movement seeks and incites read more

All mass movements avail themselves of action as a means of unification. The conflicts a mass movement seeks and incites serve not only to down its enemies but also to strip its followers of their distinct individuality and render them more soluble in the collective medium.

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A consumer is a shopper who is sore about something.

A consumer is a shopper who is sore about something.

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Taxation WITH representation ain't so hot either.

Taxation WITH representation ain't so hot either.

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If your desires be endless, your cares and fears will be so too.

If your desires be endless, your cares and fears will be so too.

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The difference between tax avoidance and tax evasion is the thickness of a prison wall.

The difference between tax avoidance and tax evasion is the thickness of a prison wall.

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