Standards Quotes
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Any policy is a success by sufficiently low standards and a failure by sufficiently high standards.
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In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price-determined by supply and demand, the same as the price of apples or coal. And it is for that reason, rather than the practical details, that the broader political movement of which the demand for a living wage is the leading edge is ultimately doomed to failure: For the amorality of the market economy is part of its essence, and cannot be legislated away.
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Entrepreneurs see the thing they want or need, then try to figure out a process of how to get it. People who shouldn't be entrepreneurs see the standard process they need to go through to get the thing they want or need then decide if they want to go through that process.
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I remember Secretary of State [George] Shultz one day saying that America is an economic model for the world. I replied to him that America represents 5 percent of the world's population and consumes 30 percent of the world's energy. What if everyone in the world lives like Americans? Where do we get the energy for this standard of living?
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As has been said, standards are always out of date - that is why we call them standards.
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The standard of success in life isn't the things. It isn't the money or the stuff. It is absolutely the amount of joy that you feel.
