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Hendrith Vanlon Smith Jr Quotes

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Famous Hendrith Vanlon Smith Jr Quotes

“Individual profits cause collective growth and prosperity. It is necessary for individual people, businesses, and companies to profit, in a Permaculture Economy where justice is maintained and fairly applied. Profits are earned when efficiency is mastered. With profits, individuals invest in (a) new and innovative means of production which will allow more profits, or (b) they use profits to buy products or services from other individuals who are also seeking profit by providing value. Profits also incentivize individuals to be productive to begin with. If there will be no profit in an activity, business or industry, then individuals will decline participation. Since profits are only possible when buyers are satisfied with the productivity of sellers, then it is also true that an individual's willingness to participate in an activity, business or industry is preceded by the buyers satisfaction which allows them to profit. So, when buyers decline participation it forces sellers to decline participation. Inversely, if profits are removed through force of price controls by the government, then sellers will decline participation which then causes buyers to decline participation.”

Hendrith SmithPermaculture EconomyPermaculture EconomicsEconomics Philosophy
Book:Principles of a Permaculture Economy
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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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“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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“The Bahamas is becoming a leading nation in regards to Blockchain Technology and Cryptocurrency. I think The Bahamas will supercede the United States in these categories soon. And if Bahamians approach this right, we can pivot from the entrapment of tourism to the leverage of influencing global interactions with cryptocurrency, new forms of capital, and vital technologies.”

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Author:Hendrith Vanlon Smith Jr
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“Margins matter in business. If a business has $1,000,000 dollars in revenues but $1.5 million in expenses, the business is heading for self destruction due to a liquidity problem. Meanwhile, if another business only has $100,000 in revenues and $50,000 in expenses, it’s doing better than the first business even though it has less revenues. And a business with $60,000 in revenues but only $2,000 in expenses technically has a greater margin than both of the other businesses. Revenues are very important, but the key is to both maximize revenues and minimize expenses so that you have the widest profit margin possible.”

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Author:Hendrith Vanlon Smith Jr
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“With managing a business, you need to Invest in good software and or good data mining systems. Run your numbers routinely. Take a look at your revenues - when is the money typically coming in, from where, can you identify any patterns in your revenues? Then take a look at your expenses - analyze the numbers and identify patterns. Why? Because Identifying patterns and extracting actionable items from your revenue and expense data will result in the clarity you need to make good business decisions.”

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Book:The Wealth Reference Guide: An American Classic
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