A Private Enterprise System Needs Some Measuring

With Some Notable Exceptions, Businessmen Favor Free Enterprise In General But Are Opposed To It When It Comes To Themselves.

The Key Insight Of Adam Smith's Wealth Of Nations Is Misleadingly Simple: If An Exchange Between Two Parties Is Voluntary, It Will Not Take Place Unless Both Believe They Will Benefit From It. Most Economic Fallacies Derive From The Neglect Of This Simple Insight, From The Tendency To Assume That There Is A Fixed Pie, That One Party Can Gain Only At The Expense Of Another.

The True Test Of Any Scholar's Work Is Not What His Contemporaries Say, But What Happens To His Work In The Next 25 Or 50 Years. And The Thing That I Will Really Be Proud Of Is If Some Of The Work I Have Done Is Still Cited In The Text Books Long After I Am Gone.

You Cannot Be Sure That You Are Right Unless You Understand The Arguments Against Your Views Better Than Your Opponents Do.

Columbus Did Not Seek A New Route To The Indies In Response To A Majority Directive.