My Grandfather Morrison was a born orator, a keen politician, and the head of the advanced wing of the radical party in the district--a position which his son, my Uncle Bailie Morrison, occupied as his successor. More…
My Grandfather Morrison was a born orator, a keen politician, and the head of the advanced wing of the radical party in the district--a position which his son, my Uncle Bailie Morrison, occupied as his successor. More…
Adam Smith:The Wealth of Nations, Book IV, Chapter III, Paragraph 1120
Adam Smith《The Wealth of Nations》· Book IV, Chapter III · Investing
No demand can be made upon the bank, but by means of a recipice or receipt. The smaller mass of bank money, for which the receipts are expired, is mixed and confounded with the much greater mass for which they are still in force; so that, though there may be a considerable sum of bank money, for which there are no receipts, there is no specific sum or portion of it which may not at any time be demanded by one. The bank cannot be debtor to two persons for the same thing; and the owner of bank money who has no receipt, cannot demand payment of the bank till he buys one. In ordinary and quiet times, he can find no difficulty in getting one to buy at the market price, which generally corresponds with the price at which he can sell the coin or bullion it entitles him to take out of the bank.
My Grandfather Morrison was a born orator, a keen politician, and the head of the advanced wing of the radical party in the district--a position which his son, my Uncle Bailie Morrison, occupied as his successor. More…
This is a very interesting and important point, and I have often wondered if the criticism which centred upon us did not come from the fact that we were among the first, if not the first, to work out the problems of…
Henry Ford《My Life and Work》· Chapter VIII · Leadership
"What ought the employer to pay?"--"What ought the employee to receive?" These are but minor questions. The basic question is "What can the business stand?" Certainly no business can stand outgo that exceeds its income. When you pump water out of a well at a faster rate than the water flows in, the well goes dry. And when the well runs dry, those who depend on it go thirsty. And if, perchance, they imagine they can pump one well dry and then jump to some other well, it is only a matter of time when all the wells will be dry. There is now a widespread demand for more justly divided rewards, but it must be recognized that there are limits to rewards. The business itself sets the limits. You cannot distribute $150,000 out of a business that brings in only $100,000. The business limits the wages, but does anything limit the business? The business limits itself by following bad precedents.