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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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Wealth, howsoever got, in England makes lords of mechanics, gentlemen of rakes; Antiquity and birth are needless here; 'Tis impudence read more

Wealth, howsoever got, in England makes lords of mechanics, gentlemen of rakes; Antiquity and birth are needless here; 'Tis impudence and money makes a peer.

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The boss must first distinguish between action information and status information. He must discipline himself not to act on problems read more

The boss must first distinguish between action information and status information. He must discipline himself not to act on problems his managers can solve, and never to act on problems when he is explicitly reviewing status. I once knew a boss who invariably picked up the phone to give orders before the end of the first paragraph in a status report. That response is guaranteed to squelch full disclosure.

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He that is rich is wise.

He that is rich is wise.

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As a small businessperson, you have no greater leverage than the truth.

As a small businessperson, you have no greater leverage than the truth.

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It is the duty of a good shepherd to shear his sheep, not to skin them.

It is the duty of a good shepherd to shear his sheep, not to skin them.

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I figure you have the same chance of winning the lottery whether you play or not.

I figure you have the same chance of winning the lottery whether you play or not.

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...we see that there are two different kinds of...societies: (a) parasitic societies and (b) producing societies. The former are those read more

...we see that there are two different kinds of...societies: (a) parasitic societies and (b) producing societies. The former are those which live from hunting, fishing, or merely gleaning. By their economic activities they do not increase, but rather decrease, the amount of wealth in the world. The second kind of societies, producing societies, live by agricultural and pastoral activities. By these activities they seek to increase the amount of wealth in the world.

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Location, location, location.

Location, location, location.

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American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility read more

American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility that the two are connected.

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