A Quote by Louis D. Brandeis
The old idea of a good bargain was a transaction in which one man got the better of another. The new idea of a good contract is a transaction which is good for both parties to it.
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The really good idea is always traceable back quite a long way, often to a not very good idea which sparked off another idea that was only slightly better, which somebody else misunderstood in such a way that they then said something which was really rather interesting.
Sex without love is like a goddamn business transaction. And sometimes both parties feel as if they got a good deal, but that doesn't make it any less so.
If you sell me a car, we have perhaps made a good bargain for ourselves. But there are effects of this transaction on others, which we do not take into account. There is more pollution, the price of gas goes up, there is more congestion.
I have one very basic rule when it comes to "good ideas". A good idea is not an idea that solves a problem cleanly. A good idea is an idea that solves several things at the same time. The mark of good coding is not that the program does what you want, it's that it also does something that you didn't start out wanting.
Regardless of how it's done, transaction costs will continue to plummet as computers get more powerful. Low transaction costs are a wonderful thing if you're in the transaction business. They're wonderful for consumers too, making it cheaper and easier to buy things and creating new things to buy.
On the way to work good-hearted young girls sometimes offer me their seats, which I accept and bless them in return, a transaction satisfying to all concerned.
Somewhere along the way, the idea, which I think was initially to get some fair transaction between people, went out the window. And what came in was, the most you can get and the least you can give. That's why cars are the way they are nowadays. It's just an erosion of all the things that were true and right about the original idea.
We believe that almost all really good investment records will involve relatively little diversification. The basic idea that it was hard to find good investments and that you wanted to be in good investments, and therefore, you'd just find a few of them that you knew a lot about and concentrate on those seemed to me such an obviously good idea. And indeed, it's proven to be an obviously good idea. Yet 98% of the investing world doesn't follow it. That's been good for us.
I want to be the best that I can be. I want to do and have and live in a way that is in harmony with my idea of the greatest goodness. I want to harmonize physically here in this body with that which I believe to be the best, or the good way, of life. If you will make those statements, and then do not take action unless you feel good, you will always be moving upon the path in harmony with your idea of that which is good.
I love being around people that contribute. It doesn't matter where the good idea comes from. A good idea is a good idea.
In fact, a large part of what we think of as economic activity is designed to accomplish what high transaction costs would otherwise prevent or to reduce transaction costs so that individuals can negotiate freely and we can take advantage of that diffused knowledge of which Friedrich Hayek has told us.
If it's a good idea, do it today. Not tomorrow. A good idea rarely gets better over time.
A bargain is in its very essence a hostile transaction do not all men try to abate the price of all they buy? I contend that a bargain even between brethren is a declaration of war.
Society is purely and solely a continual series of exchanges... And the greatest eulogy we can give it, for exchange is an admirable transaction, in which two contracting parties always both gain; consequently, society is an uninterrupted succession of advantages, unceasingly renewed for all its members.
A sort of transaction went on between them, in which she was on one side, and life was on another, and she was always trying to get the better of it, as it was of her.
It's very good for an idea to be commonplace. The important thing is that a new idea should develop out of what is already there so that it soon becomes an old acquaintance. Old acquaintances aren't by any means always welcome, but at least one can't be mistaken as to who or what they are.
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