Be in high-growth markets." In the old economic order, in the age of market share, volume growth was a guarantor of success. Growth was what we were taught to pursue. It created higher profits for all, including market share laggards, companies with poor business designs, and companies that were poorly managed. A rising tide raised all boats. One manager articulated the classic view: "There are no management problems that volume growth can't solve. Even if we manage poorly, rising revenue helps cover the mistakes we made.
Adrian SlywotzkyRelated topics
age articulated business cover market order poor rising share success teach tide view profits higherRelated quotes
In the first place I identify this ["the equilibrium of poverty"] with primitive agriculture, and two factors have been at work there. One is, of course, population growth. If you were a poor farmer in India, Pakistan, or in much of Africa, you would want as many sons as possible as your social security. They would keep you out of the hot sun and give you some form of subsistence in your old age. So, you have pressure for population growth that is, itself, the result of the extreme economic insecurity. This is something which hasn't been sufficiently emphasized.
John Kenneth Galbraith
This country cannot afford now-if it ever could afford-unofficial strikes, wasteful stoppages, long, weary arguments about industrial demarcation, any more than we can afford out-of-date industrial methods, industrial promotion based on influence and connexion rather than technical ability, or management attitudes which give a higher priority to tax avoidance or the earning of quick, uncovenanted capital profits than to modernization and innovation in industrial production methods, or aggressiveness in exports.
Harold Wilson
In principle, every social situation involves strategic interaction among the participants. Thus, one might argue that proper understanding of any social situation would require game-theoretic analysis. But in actual fact, classical economic theory did manage to sidestep the game-theoretic aspects of economic behavior by postulating perfect competition, i. e., by assuming that every buyer and every seller is very small as compared with the size of the relevant markets, so that nobody can significantly affect the existing market prices by his actions.
John Harsanyi
What to children learn at school? They go varying distances in their studies, but at any rate they learn to read, to write and to add - i. e. a number of techniques, and a number of other things as well, including elements (which may be rudimentary or on the contrary thoroughgoing) of scientific' or 'literary culture', which are directly useful in the different jobs in production (one instruction for manual workers, another for technicians, a third for engineers, a final one for higher management, etc.). Thus they learn 'know-how.
Louis Althusser
In particular, a free market and capitalism, both subject to state control, are now being permitted and are developing; on the other hand, the socialised state enterprises are being put on what is called a profit basis, i. e., they are being reorganised on commercial lines, which, in view of the general cultural backwardness and exhaustion of the country, will, to a greater or lesser degree, inevitably give rise to the impression among the masses that there is an antagonism of interest between the management of the different enterprises and the workers employed in them.
Vladimir Lenin