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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If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the read more
If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the mantle of national interest is the last refuge of the economically dispossessed. In economic terms, pleading national interest is the declining cottage industry of those who have been bypassed by the global economy.
Whoever claims that economic competition represents 'survival of the fittest' in the sense of the law of the jungle, provides read more
Whoever claims that economic competition represents 'survival of the fittest' in the sense of the law of the jungle, provides the clearest possible evidence of his lack of knowledge of economics.
He who lives by the crystal ball soon learns to eat ground glass.
He who lives by the crystal ball soon learns to eat ground glass.
We've entered an era when very good, competent people aren't getting jobs. One remedy is to stand out, to self-promote. read more
We've entered an era when very good, competent people aren't getting jobs. One remedy is to stand out, to self-promote. If you do, you're going to get the nod over some co-worker.
Whoever originated the cliche that money is the root of all evil knew hardly anything about the nature of evil read more
Whoever originated the cliche that money is the root of all evil knew hardly anything about the nature of evil and very little about human beings.
We Asians are the original Conservatives because for thousands of years we have believed in free enterprise… you have just read more
We Asians are the original Conservatives because for thousands of years we have believed in free enterprise… you have just stolen our philosophy.
If you wish to prosper, let your customer prosper.When people have learned this lesson, everyone will seek his individual welfare read more
If you wish to prosper, let your customer prosper.When people have learned this lesson, everyone will seek his individual welfare in the general welfare. Then jealousies between man and man, city and city, province and province, nation and nation, will no longer trouble the world.
Why is there so much month left at the end of the money?
Why is there so much month left at the end of the money?
A man who has a million dollars is as well off as if her were rich.
A man who has a million dollars is as well off as if her were rich.
