Henry Ford on helping people

The only thing you can give a man without hurting him is an opportunity. 

~ Henry Ford

Andy Grove on business survival

Success breeds complacency.  Complacency breeds failure.  Only the paranoid survive.

~ Andy Grove

Andy Grove on when a company begins to decline

There is at least one point in the history of any company when you have to change dramatically to rise to the next level of performance.  Miss that moment - and you start to decline.

~ Andy Grove

Steve Forbes on the role of profit (and the contrasting views of Adam Smith and Joseph Schumpeter)

Smith, Marx and Keynes all believed in various ways in what you might call an equilibrium, that the economy is a steady state and you get disruptions from time to time, whether wars, earthquakes or new inventions.  You get some turmoil and then things settle down and you have an equilibrium, which is why even John Stuart Mill became a socialist (not because of the influence of his young wife).  He couldn’t understand the role of profit. 

Even Adam Smith did not understand the role of profit.  If you have an economy where you are striving for a perfectly competition equilibrium, there is no role for profit, other than as a bribe for entrepreneurs to do things.  Schumpeter was an infidel, in the words of Peter Drucker.  That is, he saw profit as a cost of doing business, as a moral force.  Why?  Because in his mind the economy is always dynamic.  A free market is dynamic, always changing, what he called creative destruction.  You focus on the creative side.  But it’s also destroying, which means it’s destroying capital and you have to replace that destroyed capital with new capital. 

Also, how does an economy advance?  It advances with new knowledge.  Where does knowledge come from?  Through constant experimentation by entrepreneurs in the marketplace.  Look at Silicon Valley.  Look at Peter Thiel.  He says eight out of ten ventures, even with great brains like his, will fail.  Only two out of ten, maybe one out of ten, will really be successful. 

So, profit is essential if you’re going to have a growing economy.

~ Steve Forbes, "Full Remarks by Steve Forbes On the Presentation of a Triple Crown in Economics to Mark Skousen," July 19, 2018

Illya Somin on putting Mao's Great Leap Forward in perspective

In contrast to the numerous books, movies, museums, and and remembrance days dedicated to the Holocaust, we make little effort to recall the Great Leap Forward, or to make sure that society has learned its lessons. When we vow “never again,” we don’t often recall that it should apply to this type of atrocity, as well as those motivated by racism or anti-semitism. 

The fact that Mao’s atrocities resulted in many more deaths than those of Hitler does not necessarily mean he was the more evil of the two. The greater death toll is partly the result of the fact that Mao ruled over a much larger population for a much longer time. I lost several relatives in the Holocaust myself, and have no wish to diminish its significance. But the vast scale of Chinese communist atrocities puts them in the same general ballpark. At the very least, they deserve far more recognition than they currently receive.

~ Illya Somin, "Who Was the Biggest Mass Murderer in History?," FEE.org, August 3, 2016

Mark Skousen on civilized society

The triumph of persuasion over force is the sign of a civilized society.

~ Mark Skousen

Tweet on propaganda

If you repeat a lie often enough, it becomes journalism.

~ Lisa @freedomspeech50, tweet, June 29, 2021