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""In crowds the foolish, ignorant and envious persons are freed from the sense of their insignificance and powerlessness, and are possessed instead by the notion of brutal and temporary but immense strength."" — Aug 16, 2017 03:56AM
""In crowds the foolish, ignorant and envious persons are freed from the sense of their insignificance and powerlessness, and are possessed instead by the notion of brutal and temporary but immense strength."" — Aug 16, 2017 03:56AM
“Every enterprise requires commitment to common goals and shared values. Without such commitment there is no enterprise; there is only a mob. The enterprise must have simple, clear, and unifying objectives. The mission of the organization has to be clear enough and big enough to provide common vision. The goals that embody it have to be clear, public, and constantly reaffirmed. Management’s first job is to think through, set, and exemplify those objectives, values, and goals. Management”
― The Essential Drucker
― The Essential Drucker
“[Dean] “My dear fellow, who will let you?”
[Roark] “That’s not the point. The point is, who will stop me?”
― The Fountainhead
[Roark] “That’s not the point. The point is, who will stop me?”
― The Fountainhead
“There is surely nothing quite so useless as doing with great efficiency what should not be done at all.”
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“The generic concept of capital without which economists cannot do their work has no measurable counterpart among material objects; it reflects the entrepreneurial appraisal of such objects. Beer barrels and blast furnaces, harbour installations and hotel-room furniture are capital not by virtue of their physical properties but by virtue of their economic functions. Something is capital because the market, the consensus of entrepreneurial minds, regards it as capable of yielding an income. This does not mean that the phenomena of capital cannot be comprehended by clear and unambiguous concepts. The stock of capital used by society does not present a picture of chaos. Its arrangement is not arbitrary. There is some order in it.”
― Capital and Its Structure
― Capital and Its Structure
“The mathematical economists have commonly been mathematicians first and economists afterward, disposed to oversimplify the data and underestimate the divergence between their premises and facts of life.”
― Ethics of Competition and Other Essays
― Ethics of Competition and Other Essays
Michael’s 2025 Year in Books
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