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Quote by Michael Josephson

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Michael Josephson
Michael Josephson

Michael Josephson, born on December 10, 1942, is an individual who has made achievements in an unknown field. His specific life experiences and contributions are not yet clear, but his influence and evaluation in the industry are worth exploring. more

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“History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government.”

DoeGovernmentIndividualExampleNeededCitizensSavingConstructionSavingsAccumulationBorrowedRailroads
Book:Human action: a treatise on economics
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“Well, jobs are a great thing. You have to be a bit careful: If you raise the minimum wage, you’re encouraging labor substitution and you’re going to go buy machines and automate things - or cause jobs to appear outside of that jurisdiction. And so within certain limits, you know, it does cause job destruction. If you really start pushing it, then you’re just making a huge trade-off.”

IfsKnowsWellsDoeJobsCertainCausesBitsHugeLimitsLaborDestructionMachinesRaisesTradeCarefulGreat ThingsPushingMinimumMinimum WageSubstitutionJurisdictionTrade OffsPushing It
Author:Bill Gates
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“True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.”

WayGovernmentRunningInterestIssuesPaperLateRateBoundsProsperityAppearanceCreditArtificialCollapseExpansionPaper Money
Book:Omnipotent Government: The Rise of the Total State and Total War
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