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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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  18  /  35  

The politicians don't just want your money. They want your soul. They want you to be worn down by taxes read more

The politicians don't just want your money. They want your soul. They want you to be worn down by taxes until you are dependent and helpless. When you subsidize poverty and failure, you get more of both.

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  26  /  14  

My father taught me to work; he did not teach me to love it.

My father taught me to work; he did not teach me to love it.

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  19  /  22  

The growing complexity of science, technology, and organization does not imply either a growing knowledge or a growing need for read more

The growing complexity of science, technology, and organization does not imply either a growing knowledge or a growing need for knowledge in the general population. On the contrary, the increasingly complex processes tend to lead to increasingly simple and easily understood products. The genius of mass production is precisely in its making more products more accessible, both economically and intellectually to more people.

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  19  /  24  

Many of the products which create a modern standard of living are only the physical incorporations of ideas- not only read more

Many of the products which create a modern standard of living are only the physical incorporations of ideas- not only the ideas of an Edison or a Ford but the ideas of innumerable anonymous people who figure out the design of supermarkets, the location of gasoline stations, and the million mundane things on which our material well-being depends. Societies which have more people carrying out physical acts and fewer people supplying ideas do not have higher standards of living. Quite the contrary.

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Since man does not create physical matter, those who handle material objects in the production process are not producers in read more

Since man does not create physical matter, those who handle material objects in the production process are not producers in that sense. Economic benefits result from the transformation of matter in form, location, or availability (intellectually or temporally). It is these transformations that create economic benefits valued by consumers, and whoever arranges such transformations contributes to the value of things, whether his hands actually come into contact with physical objects or not.

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  19  /  15  

It is your mind that matters economically, as much or more than your mouth or hands. In the long run, read more

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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Debt is the worst poverty.

Debt is the worst poverty.

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  8  /  18  

Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents.

Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents.

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  8  /  14  

Most people...find a disorientating mismatch between the long-term nature of their liabilities and the increasingly short-term nature of their assets.

Most people...find a disorientating mismatch between the long-term nature of their liabilities and the increasingly short-term nature of their assets.

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