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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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Honor sinks where commerce long prevails.

Honor sinks where commerce long prevails.

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The saddest thing I can imagine is to get used to luxury.

The saddest thing I can imagine is to get used to luxury.

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Money doesn't talk, it swears.

Money doesn't talk, it swears.

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A gift blinds the wise and perverts the words of the righteous.

A gift blinds the wise and perverts the words of the righteous.

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Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements read more

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.

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Money is the fruit of evil, as often as the root of it.

Money is the fruit of evil, as often as the root of it.

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A man's indebtedness is not virtue; his repayment is. Virtue begins when he dedicates himself actively to the job of read more

A man's indebtedness is not virtue; his repayment is. Virtue begins when he dedicates himself actively to the job of gratitude.

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He that maketh haste to be rich shall not be innocent. [Proverbs 28:20].

He that maketh haste to be rich shall not be innocent. [Proverbs 28:20].

by Bible Found in: Finance and economics Quotes,
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A market is the combined behavior of thousands of people responding to information, misinformation and whim.

A market is the combined behavior of thousands of people responding to information, misinformation and whim.

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