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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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  17  /  21  

The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually read more

The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually by governmental activity.

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Money, the root of all evil...but the cure for all sadness.

Money, the root of all evil...but the cure for all sadness.

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Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it. read more

Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it. - "Modern Maturity Magazine, Jan/Feb 1995".

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If you love your customer to death, you can't go wrong.

If you love your customer to death, you can't go wrong.

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When people go to work, they shouldn't have to leave their hearts at home.

When people go to work, they shouldn't have to leave their hearts at home.

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Prosperity is living easily and happily in the real world, whether you have money or not.

Prosperity is living easily and happily in the real world, whether you have money or not.

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The 1980s are to debt what the 1960s were to sex. The 1960s left a hangover. So will the 1980s.

The 1980s are to debt what the 1960s were to sex. The 1960s left a hangover. So will the 1980s.

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The most important benefit of population size and growth is the increase it brings to the stock of useful knowledge. read more

The most important benefit of population size and growth is the increase it brings to the stock of useful knowledge. Minds matter economically as much as, or more than, hands or mouths.

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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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