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“The distribution of wealth and income is primarily the role and responsibility and freedom of individual people and businesses through their voluntary economic interaction with other people and businesses. And their voluntary exchange of economic value through products, services, and ideas. In this way, social mobility is maximized and a fluid class structure allows for both upward and downward economic movements; this is social justice.”

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Book:Principles of a Permaculture Economy
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“Substitution competition is a natural limit or control on prices. In a permaculture economy, every useful product or service in a market coexists with a variety of substitutes. There is a point to which monopolies become uneconomical/ unprofitable. Almost every product or service, or their inputs, may be used for a variety of purposes by a variety of consumers, If the price (a) causes there to be more or less consumption of (b) then a and b are substitutes. Substitution competition eventually causes monopolies to shrink or fail , or creates new market space which renders the previous monopoly relatively smaller in size and therefore not a monopoly in the context of the expanded economy”

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Book:Principles of a Permaculture Economy
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“Value is determined by individual buyers and sellers. There is no item or service which has a fixed or definite value. Because circumstances, scenarios, and objectives vary indefinitely; value also varies indefinitely. Peacoats are very valuable to people in Michigan, but have much less value to the residents of Texas. The reason why is simply because it gets much colder more often in Michigan than it does in Texas, and coats of any kind are rarely required in the warm climate of Texas. If a regulator were to say that sellers in Michigan can not sell peacoats for a higher price than they are sold in Texas, they would be perverting the market. Without price fixing, the price for peacoats would likely be higher in Michigan simply because the demand for that product is higher there. Value is subjective in the same way that needs are subjective”

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Book:Principles of a Permaculture Economy
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“When the individual people have the freedom to engage in permaculture activity, the effect is that ultimately the standards of living are improved for everyone, such that poverty is ultimately eradicated and even the people with the least among all still enjoy considerable wealth. When government or central planning agencies forcefully redistribute wealth, it has the ultimate effect of eradicating wealth such that eventually most people among all are poor; while even those people who have some temporary riches do not have real wealth”

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Book:Principles of a Permaculture Economy
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“In regard to what is best for individual people and for society as a whole; ownership of the means of production should belong predominantly to individual people. This is necessary for the people's freedom to be maintained. And, their freedom makes it possible. When the government/state controls of the means of production, the conditions for tyranny are created.”

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Book:Principles of a Permaculture Economy
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“From the perspective of society as a whole, there is no fixed or objective need aside from those broad categories required for survival. Rarely, if ever, is there a fixed quantity or definite quality demanded. This is why the needs of individuals are best met by other individuals according to supply, demand, and the price mechanism. And this is why most of the needs of individuals cannot be met only by central government.”

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Book:Principles of a Permaculture Economy
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“In business, what's required for short term profit and what's required for long term resilience are very often at a juxtaposition. I used to run track and field and any track runner will tell you that winning a 100 meter race requires a completely different skill set than winning a marathon. And the same skills that may win you the 100 meter race may infact cause you to lose a marathon. And the skills that may win you a marathon may cause you to lose a 100 meter race. It's not really about balance. But it's about management asking the question what race is this business in at this moment and what skills are required to win this exact race right now. And then it's about asking that question over and over and over again all of the time with every business that the company is engaged in.”

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Author:Hendrith Vanlon Smith Jr
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“The global economy and all of its markets are constantly changing. In order to survive and thrive as an individual in business these days, you've got to be always updating your mental models. You've got to be always updating the software of your mind and spirit so that you remain capable of seeing the new ways value is being measured and exchanged; and so that you remain capable to plugging in to and profiting from the new ways that value is being exchanged.”

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Author:Hendrith Vanlon Smith Jr
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