“To the economically illiterate, if some company makes a million dollars in profit, this means that their products cost a million dollars more than they would have cost without profits. It never occurs to such people that these products might cost several million dollars more to produce if they were produced by enterprises operating without the incentives to be efficient created by the prospect of profits.”

— Thomas Sowell

https://www.sun-sentinel.com/news/fl-xpm-2003-12-26-0312241220-story.html, South Florida Sun Sentinel, December 26, 2003
2000s

Adopted from Wikiquote. Last update June 3, 2021. History

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Thomas Sowell 101

American economist, social theorist, political philosopher … 1930

Herbert N. Casson (1869–1951) Canadian journalist and writer

Herbert N. Casson cited in: Alfred Armand Montapert (1964) Distilled Wisdom. p. 68
1950s and later

“The aim of our efficiency has not been to produce goods, but to harvest dollars… The production of goods was always secondary to the securing of dollars.”

Henry Gantt (1861–1919) American engineer

H.L. Gantt cited in: Walter N. Polakov (1922) "The measurement of human work" in: Wallace Clark (1922) The Gantt chart, a working tool of management. New York, Ronald Press. Preface. p. 152.

““Sounds impressive. And expensive.”
“Not at all.” Danziger shook his head firmly. “It will cost, all told, only a little over three million dollars, less than the cost of two hours of war, and a better buy.””

Jack Finney book Time and Again

Source: Time and Again (1970), Chapter 4 (p. 65)

“Getting to near zero marginal cost and nearly free goods and services is a function of advances in productivity. Productivity is “a measure of productive efficiency calculated as the ratio of what is produced to what is required to produce it.” If the cost of producing an additional good or service is nearly zero, that would be the optimum level of productivity.”

Jeremy Rifkin (1945) American economist

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism (2014)

“Multi-unit business enterprise replaced small traditional enterprise when administrative coordination permitted greater productivity, lower costs, and higher profits than coordination by market mechanisms.”

Alfred D. Chandler, Jr. (1918–2007) American historian

Source: The Visible Hand (1977), p. 6.

“The natural effect of unfettered market competition is socialism. For a short time the innovator receives a large profit, as a reward for being first to the market. Then, as competitors adopt the innovation, competition drives these profits down to zero and the price gravitates toward the new, lower cost of production made possible by this innovation (that price including, of course, the cost of the producer’s maintenance and the amortization of her capital outlays). So in a free market, the cost savings in labor required to produce any given commodity would quickly be socialized in the form of reduced labor cost to purchase it.”

Kevin Carson (1963) American academic

"Who Owns the Benefit? The Free Market as Full Communism" https://theanarchistlibrary.org/library/kevin-carson-who-owns-the-benefit-the-free-market-as-full-communism (2012)

“Like it or not, giant, vertically integrated corporate enterprises were the most efficient means of organizing the production and distribution of mass produced goods and services. Bringing together supply chains, production processes, and distribution channels in vertically integrated companies under centralized management dramatically reduced transaction costs, increased efficiencies and productivity, lowered the marginal cost of production and distribution, and, for the most part, lowered the price of goods and services to consumers, allowing the economy to flourish. While those at the top of the corporate pyramid disproportionately benefited from the increasing returns on investment, it’s only fair to acknowledge that the lives of millions of consumers also improved appreciably in industrialized nations.”

Jeremy Rifkin (1945) American economist

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism (2014)

“They charged me 15 dollars. That's how much it costs to only have 20 dollars.”

Louis C.K. (1967) American comedian and actor

On being broke http://youtube.com/watch?v=rpaCQKJpE9k

“The purpose of the large horizontal (same-product) mergers was to reduce the number of plants and, hence, control production enough to insure a reasonable rate of profit. Mergers would allow a newly created large firm to produce full-time in its most efficient plants, and thereby maintain prices, production, and profits.”

Neil Fligstein (1951) American sociologist

Source: The transformation of corporate control, 1993, p. 55

“Well, I don't even want his million dollars. I don't want his million dollars. I mean, the reason I came on is because he kept you know, my web site, yeah, yeah, and said I would never come on and face him. But I don't care about his million dollars. I mean, I don't need his million.”

Sylvia Browne (1936–2013) American author

Referring to James Randi's offer of $1 million dollars to test her psychic ability.
September 3, 2001 Larry King Live, CNN interview http://transcripts.cnn.com/TRANSCRIPTS/0109/03/lkl.00.html

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