Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements read more

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.

I'm proud to be paying taxes in the United States. The only thing is -- I could be just as read more

I'm proud to be paying taxes in the United States. The only thing is -- I could be just as proud for half the money.

You don't want to get the same kind of advice from everyone on your board.

You don't want to get the same kind of advice from everyone on your board.

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.

The most important benefit of population size and growth is the increase it brings to the stock of useful knowledge. read more

The most important benefit of population size and growth is the increase it brings to the stock of useful knowledge. Minds matter economically as much as, or more than, hands or mouths.

The greatest productive force is human selfishness.

The greatest productive force is human selfishness.

Goodwill is the one and only asset that competition cannot undersell or destroy.

Goodwill is the one and only asset that competition cannot undersell or destroy.

The difference between tax avoidance and tax evasion is the thickness of a prison wall.

The difference between tax avoidance and tax evasion is the thickness of a prison wall.

If you have to forecast, forecast often.

If you have to forecast, forecast often.