Ray Tan

“In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest.

Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.”
― Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations

“What strikes me is the fact that in our society, art has become something which is related only to objects and not to individuals, or to life. That art is something which is specialized or which is done by experts who are artists. But couldn't everyone's life become a work of art? Why should the lamp or the house be an art object, but not our life?”
― Michel Foucault

“Max Weber was right in subscribing to the view that one need not be Caesar in order to understand Caesar. But there is a temptation for us theoretical sociologists to act sometimes as though it is not necessary even to study Caesar in order to understand him. Yet we know that the interplay of theory and research makes both for understanding of the specific case and expansion of the general rule.”
― Robert K. Merton, Social Theory and Social Structure

“Many who are self-taught far excel the doctors, masters, and bachelors of the most renowned universities.”
― Ludwig von Mises