Adam Smith:The Wealth of Nations, Book IV, Chapter VII, Paragraph 1421
Adam Smith《The Wealth of Nations》· Book IV, Chapter VII · Investing
The monopoly of the colony trade, too, has forced some part of the capital of Great Britain from all foreign trade of consumption to a carrying trade; and, consequently from supporting more or less the industry of Great Britain, to be employed altogether in supporting partly that of the colonies, and partly that of some other countries.
Andrew Kloman had a small steel-hammer in Allegheny City. As a superintendent of the Pennsylvania Railroad I had found that he made the best axles. He was a great mechanic--one who had discovered, what was then…
Andrew Kloman had a small steel-hammer in Allegheny City. As a superintendent of the Pennsylvania Railroad I had found that he made the best axles. He was a great mechanic--one who had discovered, what was then…
Andrew Kloman had a small steel-hammer in Allegheny City. As a superintendent of the Pennsylvania Railroad I had found that he made the best axles. He was a great mechanic--one who had discovered, what was then…
She encouraged her boys to attend church and Sunday school; but there was no difficulty in seeing that the writings of Swedenborg, and much of the Old and New Testaments had been discredited by her as unworthy of divine…
Henry Ford《My Life and Work》· Chapter VIII · Leadership
There is nothing to running a business by custom--to saying: "I pay the going rate of wages." The same man would not so easily say: "I have nothing better or cheaper to sell than any one has." No manufacturer in his right mind would contend that buying only the cheapest materials is the way to make certain of manufacturing the best article. Then why do we hear so much talk about the "liquidation of labour" and the benefits that will flow to the country from cutting wages--which means only the cutting of buying power and the curtailing of the home market? What good is industry if it be so unskillfully managed as not to return a living to everyone concerned? No question is more important than that of wages--most of the people of the country live on wages. The scale of their living--the rate of their wages--determines the prosperity of the country.