The true nature of bureaucracy may be nowhere more obvious to the observer than in a developing country, for only there will it still be made manifest by the full complement of documents, files, veneered desks and cabinets - which convey the strict and inverse relationship between productivity and paperwork.
Truly speaking, it is not instruction, but provocation, that I can receive from another soul. What he announces, I must find true in me, or reject; and on his word, or as his second, be he who he may, I can accept nothing.
We still find very few [stocks] that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge.
Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.