What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us read more

What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us in time of war.

The financial climate is the worst it's been in 25 years.

The financial climate is the worst it's been in 25 years.

There are two things needed in these days; first, for rich men to find out how poor men live; and read more

There are two things needed in these days; first, for rich men to find out how poor men live; and second, for poor men to know how rich men work.

Greater consumption due to increase in population and growth of income heightens scarcity and induces price run-ups. A higher price read more

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.

As a manager the important thing is not what happens when you are there, but what happens when you are read more

As a manager the important thing is not what happens when you are there, but what happens when you are not there.

Women do not win formula one races, because they simply are not strong enough to resist the G-forces. In the read more

Women do not win formula one races, because they simply are not strong enough to resist the G-forces. In the boardroom, it is different. I believe women are better able to marshal their thoughts than men and because they are less egotistical they make fewer assumptions.

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.

Capitalism needs to function like a game of tug-of-war. Two opposing sides need to continually struggle for dominance, but at read more

Capitalism needs to function like a game of tug-of-war. Two opposing sides need to continually struggle for dominance, but at no time can either side be permitted to walk away with the rope.

Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to read more

Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to be set higher or lower than it would be otherwise. It represents a net lose to the economy as a whole to the extent that many transactions do not take place at all, because the mutually acceptable possibilities have been reduced.