Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to read more

Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to be set higher or lower than it would be otherwise. It represents a net lose to the economy as a whole to the extent that many transactions do not take place at all, because the mutually acceptable possibilities have been reduced.

Uncle claims that if he files his income tax wrong he'll go to jail, and if he files it right read more

Uncle claims that if he files his income tax wrong he'll go to jail, and if he files it right he'll go to the poor house.

The saddest thing I can imagine is to get used to luxury.

The saddest thing I can imagine is to get used to luxury.

A man who has a million dollars is as well off as if her were rich.

A man who has a million dollars is as well off as if her were rich.

The standard of living has risen along with the size of the world's population since the beginning of recorded time. read more

The standard of living has risen along with the size of the world's population since the beginning of recorded time. There is no convincing economic reason why these trends toward a better life should not continue indefinitely.

We live in a time of transition, an uneasy era which is likely to endure for the rest of this read more

We live in a time of transition, an uneasy era which is likely to endure for the rest of this century. During the period we may be tempted to abandon some of the time-honored principles and commitments which have been proven during the difficult times of past generations. We must never yield to this temptation. Our American values are not luxuries, but necessities - not the salt in our bread, but the bread itself.
in his farewell address.

If you don't care, your customer never will.

If you don't care, your customer never will.

Every era has a currency that buys souls. In some the currency is pride, in others it is hope, in read more

Every era has a currency that buys souls. In some the currency is pride, in others it is hope, in still others it is a holy cause. There are of course times when hard cash will buy souls, and the remarkable thing is that such times are marked by civility, tolerance, and the smooth working of everyday life.

Since man does not create physical matter, those who handle material objects in the production process are not producers in read more

Since man does not create physical matter, those who handle material objects in the production process are not producers in that sense. Economic benefits result from the transformation of matter in form, location, or availability (intellectually or temporally). It is these transformations that create economic benefits valued by consumers, and whoever arranges such transformations contributes to the value of things, whether his hands actually come into contact with physical objects or not.