What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand read more

What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand what the customer is doing as well as he understands it. Then you build what he needs and you educate him to the fact that he needs it.

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.

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded- here and there, read more

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded- here and there, now and then- are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.This is known as "bad luck.".

If your outgo exceeds your income, then your upkeep will be your downfall.

If your outgo exceeds your income, then your upkeep will be your downfall.

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.

Do not fear mistakes. You will know failure. Continue to reach out.

Do not fear mistakes. You will know failure. Continue to reach out.

Profits are like breathing. You have to have them. But who would stay alive just to breathe?

Profits are like breathing. You have to have them. But who would stay alive just to breathe?

By desiring little, a poor man makes himself rich.

By desiring little, a poor man makes himself rich.

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.