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Loss Quotes

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Loss Quotes

“A half century from now, our grandchildren are likely to look back at the era of mass employment in the market with the same sense of utter disbelief as we look upon slavery and serfdom in former times. The very idea that a human being's worth was measured almost exclusively by his or her productive output of goods and services and material wealth will seem primitive, even barbaric, and be regarded as a terrible loss of human value to our progeny living in a highly automated world where much of life is lived on the Collaborative Commons.”

“For as long as human beings are forced to live in a system that at every turn impedes the fulfillment of their basic human needs - not only for love but for creative and spiritual expression - they will try to compensate for this in other ways, including the compulsive acquisition of ever more material goods.”

“These ways to make people buy were strange and new to us, and many bought for the sheer pleasure at first of holding in the hand and talking of something new. And once this was done, it was like opium, we could no longer do without this new bauble, and thus, though we hated the foreigners and though we knew they were ruining us, we bought their goods. Thus I learned the art of the foreigners, the art of creating in the human heart restlessness, disquiet, hunger for new things, and these new desires became their best helpers.”

“Capital does not 'beget profit' as Marx thought. The capital goods as such are dead things that in themselves do not accomplish anything. If they are utilized according to a good idea, profit results. If they are utilized according to a mistaken idea, no profit or losses result. It is the entrepreneurial decision that creates either profit or loss.”

“Requiring the payment of higher wages will lead to a loss of some jobs and a raising of prices which drives companies to search for automation to reduce costs. On the other hand, those receiving higher wages will spend more (the marginal propensity to consume is close to 1 for low income earners) and this will increase demand for additional goods and services. Henry Ford had the clearest vision of why companies can actually benefit by paying higher wages.”