Monday, October 8, 2012

116. "Buffett became rich only by chance."


"Although the method for making a large profit from equity investment or foreign exchange trading does not exist, there is no end to the number of sellers of such a method. There are people who have become extraordinarily rich by equity investment like Warren Buffett, or course, but they became so only by chance."

From "Essence of Monetary Crisis" written by Yukio Noguchi and published by Toyo Keizai Inc.

Sunday, July 1, 2012

115. "The impossibility of taxing the people, in proportion to their revenue, have given occasion to the invention of taxes upon consumable commodities."


"The impossibility of taxing the people, in propotion to their revenue, by any capitation, seems to have given occasion to the invention of taxes upon consumable commodities. The state not knowing how to tax, directly and proportionably, the revenue of its subjects, endeavours to tax it indirectly by taxing their expence, which, it is supposed, will in most cases be nearly in proportion to their revenue. Their expence is taxed by taxing the consumable commodities upon which it is laid out."

From "The Wealth of Nations" by Adam Smith



Monday, May 28, 2012

114. "Once a customer considers a brand reliable and attractive, he continues to purchase goods with the brand without considering prices and functions of such goods...

... In short, a citizen does not necessarily take a rational action in order to maximize his own benefit.”

From "Social Shift" written by Tohru Saito and published by Nikkei Inc.


Monday, March 12, 2012

113. "Japanese do not have an established custom of inviting friends to their homes...

...simply because their homes have traditionally been small, crowded, and considered inappropriate for entertaining. Instead, it became the practice to invite people to public dirinking places and restaurants--one of the reasons Japan has more restaurants and drinking places per capita than any other nation."

From "Etiquette Guide to Japan" by Boye Lafayette de Mente, Tuttle Publishing