Another man Quote by Paul Samuelson
“Profits are the lifeblood of the economic system, the magic elixir upon which progress and all good things depend ultimately. But one man's lifeblood is another man's cancer.”
About This Quote
Source Lecture: Economic theory, 1975
Profits drive progress, yet wealth can cause harm, showing dual nature of economics
In simple terms: Profit fuels growth but can also cause damage
Key Takeaway
Balance profit motives with ethical considerations
Themes
profit
growth
ethics
Mood
analytical
concerned
Type
economic
ethical
When to use this quote
- business strategy
- policy making
- investment decisions
- social entrepreneurship
Key Concepts
economic externalities
distributional justice
Questions to Reflect On
- How can profit be aligned with social good?
- What policies mitigate harmful externalities?
A Different Perspective
Profit pursuit may ignore social costs
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![“Next came the Patent laws. These began in England in 1624; and, in this country, with the adoption of our constitution. Before then [these?], any man might instantly use what another had invented; so that the inventor had no special advantage from his own invention. The patent system changed this…” quote by Abraham Lincoln](https://sms4smile.com/quotes/img-quotes/449/abraham-lincoln-88_adoption_next-came-the-patent-laws-these-began-in_1828.jpg)
