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Many of the products which create a modern standard of living are only the physical incorporations of ideas- not only read more
Many of the products which create a modern standard of living are only the physical incorporations of ideas- not only the ideas of an Edison or a Ford but the ideas of innumerable anonymous people who figure out the design of supermarkets, the location of gasoline stations, and the million mundane things on which our material well-being depends. Societies which have more people carrying out physical acts and fewer people supplying ideas do not have higher standards of living. Quite the contrary.
The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a read more
The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a competition in the grabbing off of scarce nature-given supplies, as it is in the animal kingdom. Rather, it is a competition in the positive creation of new and additional wealth.
Every few seconds it changes - up an eighth, down an eighth - it's like playing a slot machine. I read more
Every few seconds it changes - up an eighth, down an eighth - it's like playing a slot machine. I lose $20 million, I gain $20 million.
I've got a living to make, to put it plainly; there's more money in shocking and terrifying than in edifying.
I've got a living to make, to put it plainly; there's more money in shocking and terrifying than in edifying.
The herd instinct among forecasters makes sheep look like independent thinkers.
The herd instinct among forecasters makes sheep look like independent thinkers.
A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
He that is rich is wise.
He that is rich is wise.
An economist's guess is liable to be as good as anybody else's.
An economist's guess is liable to be as good as anybody else's.
I've been promoted to middle management. I never thought I'd sink so low.
I've been promoted to middle management. I never thought I'd sink so low.
