...we see that there are two different kinds of...societies: (a) parasitic societies and (b) producing societies. The former are those which live from hunting, fishing, or merely gleaning. By their economic activities they do not increase, but rather decrease, the amount of wealth in the world. The second kind of societies, producing societies, live by agricultural and pastoral activities. By these activities they seek to increase the amount of wealth in the world.
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Business, that's easily defined; it's other people's money.
Business, that's easily defined; it's other people's money.
Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. And read more
Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth. And when a person does not understand the creation of resources and wealth, the only intellectual alternative is to believe that increasing wealth must be at the cost of someone else. This belief that our good fortune must be an exploitation of others may be the taproot of false prophecy about doom that our evil ways must bring upon us.
Some great men owe most of their greatness to the ability of detecting in those they destine for their tools read more
Some great men owe most of their greatness to the ability of detecting in those they destine for their tools the exact quality of strength that matters for their work.
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.
Finance is the art of passing currency from hand to hand until it finally disappears.
Finance is the art of passing currency from hand to hand until it finally disappears.
The best inheritance a parent can give his children is a few minutes of his time each day.
The best inheritance a parent can give his children is a few minutes of his time each day.
The first condition for the establishment of perpetual peace is the general adoption of the principles of laissez-faire capitalism.
The first condition for the establishment of perpetual peace is the general adoption of the principles of laissez-faire capitalism.
Save a little money each month and at the end of the year you'll be surprised at how little you read more
Save a little money each month and at the end of the year you'll be surprised at how little you have.
Whenever you are asked if you can do a job, tell 'em, "Certainly, I can!" Then get busy and find read more
Whenever you are asked if you can do a job, tell 'em, "Certainly, I can!" Then get busy and find out how to do it.
