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.
You May Also Like / View all maxioms
Everything starts with the customer.
Everything starts with the customer.
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.
If you're not serving the customer, you'd better be serving someone who is.
If you're not serving the customer, you'd better be serving someone who is.
The buck stops with the guy who signs the checks.
The buck stops with the guy who signs the checks.
This is a test. It is only a test. Had it been an actual job, you would have received raises, read more
This is a test. It is only a test. Had it been an actual job, you would have received raises, promotions, and other signs of appreciation.
Because bankers measure their self-worth in money, and pay themselves a lot of it, they think they're fine fellows and read more
Because bankers measure their self-worth in money, and pay themselves a lot of it, they think they're fine fellows and don't need to explain themselves.
If you have to forecast, forecast often.
If you have to forecast, forecast often.
To kill a relative of whom you are tired is something. But to inherit his property afterwards, that is genuine read more
To kill a relative of whom you are tired is something. But to inherit his property afterwards, that is genuine pleasure.
Business is more exciting than any game.
Business is more exciting than any game.
