Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.

As to the idea that advertising motivates people, remember the Edsel.

As with every phenomenon of the objective universe, the first step toward understanding work is to analyze it.

There are two types of people in the business community: those who produce results and those who give you reasons why they didn't.

Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

When a resource is scarce, you increase its yield.

Salvation by society failed the most where it promised the most, in the communist countries. But it also failed in the West. Practically no government program enacted since the 1950s in the Western world - or in the communist countries - has been successful.