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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If you do it right 51 percent of the time you will end up a hero.
If you do it right 51 percent of the time you will end up a hero.
When your work speaks for itself, don't interrupt.
When your work speaks for itself, don't interrupt.
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.
Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to read more
Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to tell people what ends they should aim at. It is a science of the means to be applied for attainment of ends chosen, not, to be sure, a science of the choosing of ends. Ultimate decisions, the valuations and the choosing of ends, are beyond the scope of any science. Science never tells a man how he should act; it merely shows how a man must act if he wants to attain definite ends.
Stressing output is the key to improving productivity, while looking to increase activity can result in just the opposite.
Stressing output is the key to improving productivity, while looking to increase activity can result in just the opposite.
Money may kindle, but it cannot by itself, and for very long, burn.
Money may kindle, but it cannot by itself, and for very long, burn.
The growing complexity of science, technology, and organization does not imply either a growing knowledge or a growing need for read more
The growing complexity of science, technology, and organization does not imply either a growing knowledge or a growing need for knowledge in the general population. On the contrary, the increasingly complex processes tend to lead to increasingly simple and easily understood products. The genius of mass production is precisely in its making more products more accessible, both economically and intellectually to more people.
Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents.
Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents.
If you don't care, your customer never will.
If you don't care, your customer never will.
