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The growing complexity of science, technology, and organization does not imply either a growing knowledge or a growing need for knowledge in the general population. On the contrary, the increasingly complex processes tend to lead to increasingly simple and easily understood products. The genius of mass production is precisely in its making more products more accessible, both economically and intellectually to more people.
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The human condition is always to push forward for the better and economics is the study of that process.
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The increase in the world’s population represents our victory against death…
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The IRS spends God knows how much of your tax money on these toll-free information hot lines staffed by IRS employees, whose idea of a dynamite tax tip is that you should print neatly. If you ask them a real tax question, such as how you can cheat, they’re useless. So, for guidance, you want to look to big business. Big business never pays a nickel in taxes, according to Ralph Nader, who represents a big consumer organization that never pays a nickel in taxes…
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The Law of Triviality… briefly stated, it means that the time spent on any item of the agenda will be in inverse proportion to the sum involved.
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The little I know of it has not served to raise my opinion of what is vulgarly called the Monied Interest; I mean, that blood-sucker, that muckworm, that calls itself the friend of government.
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The meaning of economic freedom is this: that the individual is in a position to choose the way in which he wants to integrate himself into the totality of society.
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The money-changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths.
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The monstrous evils of the twentieth century have shown us that the greediest money grubbers are gentle doves compared with money-hating wolves like Lenin, Stalin, and Hitler, who in less than three decades killed or maimed nearly a hundred million men, women, and children and brought untold suffering to a large portion of mankind.
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The more we learn to operate in the world based on trust in our intuition, the stronger our channel will be and the more money we will have.
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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.
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The objects of a financier are, then, to secure an ample revenue; to impose it with judgment and equality; to employ it economically; and, when necessity obliges him to make use of credit, to secure its foundations in that instance, and for ever, by the clearness and candor of his proceedings, the exactness of his calculations, and the solidity of his funds.
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The pen is mightier than the sword, but no match for the accountant.
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The principles applied in economic processes are general social principles.
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The problem with the person who thinks he’s a long-term investor and impervious to short-term gyrations is that the emotion of fear and pain will eventually make him sell badly.
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The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer classes have adopted a certain way of living, producers have an incentive to improve the methods of manufacture so that soon it is possible for the poorer classes to follow suit. Thus luxury furthers progress. Innovation is the whim of an elite before it becomes a need of the public. The luxury today is the necessity of tomorrow. Luxury is the roadmaker of progress: it develops latent needs and makes people discontented. In so far as they think consistently, moralists who condemn luxury must recommend the comparatively desireless existence of the wild life roaming in the woods as the ultimate ideal of civilized life.
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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.
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The system of book-keeping by double entry is, perhaps, the most beautiful one in the wide domain of literature or science. Were it less common, it would be the admiration of the learned world.
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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.
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The way to stop financial joy-riding is to arrest the chauffeur, not the automobile.
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