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    The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer classes have adopted a certain way of living, producers have an incentive to improve the methods of manufacture so that soon it is possible for the poorer classes to follow suit. Thus luxury furthers progress. Innovation "is the whim of an elite before it becomes a need of the public. The luxury today is the necessity of tomorrow." Luxury is the roadmaker of progress: it develops latent needs and makes people discontented. In so far as they think consistently, moralists who condemn luxury must recommend the comparatively desireless existence of the wild life roaming in the woods as the ultimate ideal of civilized life.

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Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information read more

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated.

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  9  /  36  

Make a customer, not a sale.

Make a customer, not a sale.

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  15  /  22  

More business is lost every year through neglect than through any other cause.

More business is lost every year through neglect than through any other cause.

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  14  /  17  

The five essential entrepreneurial skills for success: Concentration, Discrimination, Organization, Innovation and Communication.

The five essential entrepreneurial skills for success: Concentration, Discrimination, Organization, Innovation and Communication.

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  14  /  14  

The trouble with being poor is that it takes up all your time.

The trouble with being poor is that it takes up all your time.

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  12  /  17  

Competition on the market aims at assigning to every individual that function in the social system in which he can read more

Competition on the market aims at assigning to every individual that function in the social system in which he can render to all his fellow men the most valuable of the services he is able to perform.

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I made my money by selling too soon.

I made my money by selling too soon.

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What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand read more

What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand what the customer is doing as well as he understands it. Then you build what he needs and you educate him to the fact that he needs it.

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For me, hard work represents the supreme luxury of life.

For me, hard work represents the supreme luxury of life.

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