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Samuel_Butler
Scientific Mind
"The best class of scientific mind is the same as the best class of business mind. The great desideratum in either case is to know how much evidence is enough to warrant action. It is as unbusiness-like to want too much evidence before buying or selling as to be content with too little. The same kind of qualities are wanted in either case. The difference is that if the business man makes a mistake, he commonly has to suffer for it, whereas it is rarely that scientific blundering, so long as it is confined to theory, entails loss on the blunderer. On the contrary it very often brings him fame, money and a pension. Hence the business man, if he is a good one, will take greater care not to overdo or underdo things than the scientific man can reasonably be expected to take."
- Source: Samuel Butler, Henry Festing Jones (ed.), The Note-Books of Samuel Butler (1917), 217.
- Keywords: Mind_quotes Science_quotes Business_quotes Evidence_quotes Action_quotes Desire_quotes Mistake_quotes Suffering_quotes Theory_quotes Fame_quotes Money_quotes Best_quotes Desideratum_quotes Warrant_quotes Buy_quotes Sell_quotes Content_quotes Difference_quotes Blunder_quotes Pension_quotes Overdo_quotes Underdo_quotes
Henry_Ford
Wages
“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.”
- Source: Henry Ford. A book. Entitled My Life and Work. Written by Henry Ford in collaboration with Samuel Crowther. Published 1922, Garden City, NY: Doubleday. Chapter VIII.
- See Also:
- Keywords: Business_quotes Pay_quotes Rate_quotes Wage_quotes Manufacture_quotes Sell_quotes Mind_quotes Buy_quotes Cheap_quotes Material_quotes Liquidation_quotes Labor_quotes Benefit_quotes Cut_quotes Power_quotes Market_quotes Industry_quotes People_quotes Prosperity_quotes Country_quotes Inequality_quotes Nothing_quotes Run_quotes Custom_quotes Say_quotes Man_quotes Easy_quotes Better_quotes Contend_quotes Best_quotes Article_quotes Hear_quotes Talk_quotes Curtail_quotes Home_quotes Management_quotes Living_quotes Question_quotes Important_quotes Scale_quotes Determine_quotes
Joseph_Heller
Lousy Earth
“What a lousy earth! He wondered how many people were destitute that same night even in his own prosperous country, how many homes were shanties, how many husbands were drunk and wives socked, and how many children were bullied, abused or abandoned. How many families hungered for food they could not afford to buy? How many hearts were broken? How many suicides would take place that same night, how many people would go insane? How many cockroaches and landlords would triumph? How many winners were losers, successes failures, rich men poor men? How many wise guys were stupid? How many happy endings were unhappy endings? How many honest men were liars, brave men cowards, loyal men traitors, how many sainted men were corrupt, how many people in positions of trust had sold their souls to blackguards for petty cash, how many had never had souls? How many straight-and-narrow paths were crooked paths? How many best families were worst families and how many good people were bad people? When you added them all up and then subtracted, you might be left with only the children, and perhaps with Albert Einstein and an old violinist or sculptor somewhere.”
- Source: Heller, Joseph. 'Catch-22: 50th Anniversary Edition'. Chapter 39 'The Eternal City', page 483. Simon & Schuster. Kindle Edition.
- Keywords: Lousy_quotes Earth_quotes Wonder_quotes People_quotes Destitute_quotes Night_quotes Country_quotes Home_quotes Shanty_quotes Husband_quotes Drunk_quotes Wife_quotes Socked_quotes Children_quotes Bully_quotes Abuse_quotes Abandoned_quotes Family_quotes Hungry_quotes Food_quotes Afford_quotes Buy_quotes Heart_quotes Broken_quotes Suicide_quotes Insanity_quotes Cockroach_quotes Landlord_quotes Triumph_quotes Win_quotes Lose_quotes Success_quotes Failure_quotes Rich_quotes Poor_quotes Men_quotes Wise_quotes Stupid_quotes Happy_quotes Ending_quotes Honest_quotes Liar_quotes Brave_quotes Coward_quotes Loyal_quotes Traitor_quotes Saint_quotes Corrupt_quotes Position_quotes Trust_quotes Sell_quotes Soul_quotes Blackguards_quotes Petty_quotes Cash_quotes Straight_quotes Narrow_quotes Crooked_quotes Path_quotes Good_quotes Bad_quotes Addition_quotes Subtraction_quotes Einstein(topic)_quotes Old_quotes Violin_quotes Sculptor_quotes
Herbert_Simon
Operational Research Restrictions
“The powerful algorithms associated with OR impose a strong mathematical structure on the decision problem. Their power is bought at the cost of shaping and squeezing the real-world problem to fit their computational requirements.”
- Source: Simon, H. A. (1996). The Sciences of the Artificial (Third Edition). Computers & Mathematics with Applications (3rd ed., Vol. 33). Cambridge, MA: MIT Press. ISBN: 9780585360102. Retrieved 2018-08-23 from https://monoskop.org/images/9/9c/Simon_Herbert_A_The_Sciences_of_the_Artificial_3rd_ed.pdf. Chapter 2, page 27.
- Keywords: Power_quotes Algorithm_quotes Association_quotes Operation_quotes Research_quotes Strength_quotes Mathematics_quotes Structure_quotes Decision_quotes Problem_quotes Cost_quotes Buy_quotes Shape_quotes Squeeze_quotes World_quotes Fit_quotes Computation_quotes Requirements_quotes Real_quotes
Markets and Coordination
“Markets aim to coordinate the decisions and behavior of multitudes of economic actors to guarantee that the quantity of brussels sprouts shipped to market bears some reasonable relation to the quantity that consumers will buy and eat, and that the price at which brussels sprouts can be sold bears a reasonable relation to the cost of producing them. Any society that is not a subsistence economy, but has substantial specialization and division of labor, needs mechanisms to perform this coordinative function. Markets are only one, however, among the spectrum of mechanisms of coordination on which any society relies. [central planning, bargaining and negotiation, business, government, education, balloting procedures]”
- Source: Simon, H. A. (1996). The Sciences of the Artificial (Third Edition). Computers & Mathematics with Applications (3rd ed., Vol. 33). Cambridge, MA: MIT Press. ISBN: 9780585360102. Retrieved 2018-08-23 from https://monoskop.org/images/9/9c/Simon_Herbert_A_The_Sciences_of_the_Artificial_3rd_ed.pdf. Chapter 2, page 30.
- Keywords: Market_quotes Aim_quotes Coordination_quotes Decision_quotes Behavior_quotes Multitude_quotes Economics_quotes Actor_quotes Guarantee_quotes Quantity_quotes Brussels_Sprount_quotes Market_quotes Reason_quotes Relational_quotes Consumer_quotes Buy_quotes Eat_quotes Price_quotes Sell_quotes Cost_quotes Production_quotes Society_quotes Subsistence_quotes Economy_quotes Substance_quotes Specialization_quotes Division_quotes Labor_quotes Mechanism_quotes Performance_quotes Function_quotes Spectrum_quotes Reliance_quotes Centralization_quotes Plan_quotes Bargin_quotes Negotiation_quotes Business_quotes Government_quotes Education_quotes Ballot_quotes Procedure_quotes
