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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Uncle claims that if he files his income tax wrong he'll go to jail, and if he files it right read more
Uncle claims that if he files his income tax wrong he'll go to jail, and if he files it right he'll go to the poor house.
Satiety is a mongrel that barks at the heels of plenty.
Satiety is a mongrel that barks at the heels of plenty.
By desiring little, a poor man makes himself rich.
By desiring little, a poor man makes himself rich.
This world is run with far too tight a rein for luck to interfere. Fortune sells her wares; she never read more
This world is run with far too tight a rein for luck to interfere. Fortune sells her wares; she never gives them. In some form or other, we pay for her favors; or we go empty away.
Whales only get harpooned when they come to the surface, and turtles can only move forward when they stick their read more
Whales only get harpooned when they come to the surface, and turtles can only move forward when they stick their neck out, but investors face risk no matter what they do.
Money never starts an idea; it is the idea that starts the money.
Money never starts an idea; it is the idea that starts the money.
Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell read more
Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it.
The worst crime against working people is a company which fails to operate at a profit.
The worst crime against working people is a company which fails to operate at a profit.
The Trojans lost the war because they fell for a really dumb trick. hey, there's a gigantic wooden horse outside read more
The Trojans lost the war because they fell for a really dumb trick. hey, there's a gigantic wooden horse outside and all the Greeks have left. Let's bring it inside! Not a formula for long-term survival. Now if they had formed a task force to study the Trojan Horse and report back to a committee, everyone wouldn't have been massacred.. Who says middle management is useless?
