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A Penny Saved is a Penny Earned
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Benjamin Franklin
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Too many people spend money they haven't earned, to buy things they don't want, to impress people that they don't like.
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Will Rogers
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Making money isn't hard in itself... What's hard is to earn it doing something worth devoting one’s life to.
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Carlos Ruiz Zafón (The Shadow of the Wind (The Cemetery of Forgotten Books, #1))
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I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money.
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Thomas Sowell (Barbarians Inside the Gates and Other Controversial Essays (Hoover Institution Press Publication))
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Let me give you a tip on a clue to men's characters: the man who damns money has obtained it dishonorably; the man who respects it has earned it.
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Ayn Rand (Atlas Shrugged)
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The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.
Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness.
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Terry Pratchett (Men at Arms: The Play)
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If you want to earn a certain amount of money, develop yourself into the person who is worth being paid that amount of money.
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Idowu Koyenikan (Wealth for All: Living a Life of Success at the Edge of Your Ability)
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A man wants to earn money in order to be happy, and his whole effort and the best of a life are devoted to the earning of that money. Happiness is forgotten; the means are taken for the end.
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Albert Camus (The Myth of Sisyphus and Other Essays)
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As a woman you are better off in life earning your own money. You couldn't prevent your husband from leaving you or taking another wife, but you could have some of your dignity if you didn't have to beg him for financial support.
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Ayaan Hirsi Ali (Infidel)
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Writing is the only profession where no one considers you ridiculous if you earn no money.
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Jules Renard
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How many young college graduates have taken demanding jobs in high-powered firms, vowing that they will work hard to earn money that will enable them to retire and pursue their real interests when they are thirty-five? But by the time they reach that age, they have large mortgages, children to school, houses in the suburbs that necessitate at least two cars per family, and a sense that life is not worth living without really good wine and expensive holidays abroad. What are they supposed to do, go back to digging up roots? No, they double their efforts and keep slaving away.
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Yuval Noah Harari (Sapiens: A Brief History of Humankind)
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Our men think earning money and ordering around others is where power lies. They don't think power is in the hands of the woman who takes care of everyone all day long, and gives birth to their children.
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Malala Yousafzai (I Am Malala: The Story of the Girl Who Stood Up for Education and Was Shot by the Taliban)
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The man who damns money has obtained it dishonorably; the man who respects it has earned it.
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Ayn Rand (Atlas Shrugged)
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You cannot bring about prosperity by discouraging thrift.
You cannot strengthen the weak by weakening the strong.
You cannot help little men by tearing down big men.
You cannot lift the wage earner by pulling down the wage payer.
You cannot help the poor by destroying the rich.
You cannot establish sound security on borrowed money.
You cannot further the brotherhood of man by inciting class hatred.
You cannot keep out of trouble by spending more than you earn.
You cannot build character and courage by destroying men's initiative and independence.
And you cannot help men permanently by doing for them what they can and should do for themselves.
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William J.H. Boetcker
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Tomorrow you're all going to wake up in a brave new world, a world where the Constitution gets trampled by an army of terrorist clones, created in a stem-cell research lab run by homosexual doctors who sterilize their instruments over burning American flags. Where tax-and-spend Democrats take all your hard-earned money and use it to buy electric cars for National Public Radio, and teach evolution to illegal immigrants. Oh, and everybody's high!
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Stephen Colbert (I Am America (And So Can You!))
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Some people are born into families that encourage education; others are against it. Some are born into flourishing economies encouraging of entrepreneurship; others are born into war and destitution. I want you to be successful, and I want you to earn it. But realize that not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself.
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Morgan Housel (The Psychology of Money)
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No man should receive a dollar unless that dollar has been fairly earned.
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Theodore Roosevelt
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But to yell at your creativity, saying, “You must earn money for me!” is sort of like yelling at a cat; it has no idea what you’re talking about, and all you’re doing is scaring it away, because you’re making really loud noises and your face looks weird when you do that.
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Elizabeth Gilbert (Big Magic: Creative Living Beyond Fear)
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To the people who are upset about their hard-earned tax money going to things they don’t like: welcome to the f*cking club. Reimburse me for the Iraq war and oil subsidies, and diaphragms are on me!
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Jon Stewart
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If you don’t want to work you have to work to earn enough money so that you won’t have to work.
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Ogden Nash (Hard Lines)
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Any fool can spend money. But to earn it and save it and defer gratification—then you learn to value it differently.
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Malcolm Gladwell (David and Goliath: Underdogs, Misfits, and the Art of Battling Giants)
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Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like
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Will Smith
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I have nothing but contempt for the people who despise money. They are hypocrites or fools. Money is like a sixth sense without which you cannot make a complete use of the other five. Without an adequate income half the possibilities of life are shut off. The only thing to be careful about is that you do not pay more than a shilling for the shilling you earn. You will hear people say that poverty is the best spur to the artist. They have never felt the iron of it in their flesh. They do not know how mean it makes you. It exposes you to endless humiliation, it cuts your wings, it eats into your soul like a cancer.
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W. Somerset Maugham (Of Human Bondage)
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He has seen good people capable of great evil, but also evil people capable of incredible light. It's the same everywhere. Almost everybody loves too much, hates too easily, forgives too little. But most people want the same things: to live in peace, to make their hearts beat a little slower when the night comes, to earn some money to support the ones they love.
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Fredrik Backman (The Winners (Beartown, #3))
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Spending of the best part of one's life earning money in order to enjoy questionable liberty during the least valuable part of it, reminds me of the Englishman who went to India to make a fortune first, in order that he might return to England and live the life of a poet. He should have gone up garret at once.
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Henry David Thoreau (Walden and Other Writings (Modern Library))
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It's really going to happen. I really won't ever go back to school. Not ever. I'll never be famous or leave anything worthwhile behind. I'll never go to college or have a job. I won't see my brother grow up. I won't travel, never earn money, never drive, never fall in love or leave home or get my own house.
It's really, really true.
A thought stabs up, growing from my toes and ripping through me, until it stifles everything else and becomes the only thing I'm thinking. It fills me up like a silent scream.
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Jenny Downham (Before I Die)
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Making money isn't hard in itself,what's hard is to earn it doing something worth devoting your life to
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Carlos Ruiz Zafón (The Shadow of the Wind (The Cemetery of Forgotten Books, #1))
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If you wrote something for which someone sent you a cheque, if you cashed the cheque and it didn't bounce, and if you then paid the light bill with the money, I consider you talented.
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Stephen King
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This could be a whole life," she thought. "You work eight hours a day covering wires to earn money to buy food and to pay for a place to sleep so that you can keep living to come back to cover more wires. Some people are born and kept living just to come to this...
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Betty Smith (A Tree Grows in Brooklyn)
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What if it becomes less about how we look and more about how much we care? What if it becomes less about how much money we earn and more about how much we share our good fortune? Imagine a world where who we are in our hearts is the ultimate status symbol.
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Amy Leigh Mercree
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If we can't respect the way we earn it, money has no value. If we can't use it to make life better for our families and loved ones, money has no purpose.
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Gregory David Roberts (Shantaram)
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If you are a woman, if you're a person of colour, if you are gay, lesbian, bisexual, transgender, if you are a person of size, if you are a person od intelligence, if you are a person of integrity, then you are considered a minority in this world.
And it's going to be really hard to find messages of self-love and support anywhere. Especially women's and gay men's culture. It's all about how you have to look a certain way or else you're worthless. You know when you look in the mirror and you think 'oh, I'm so fat, I'm so old, I'm so ugly', don't you know, that's not your authentic self? But that is billions upon billions of dollars of advertising, magazines, movies, billboards, all geared to make you feel shitty about yourself so that you will take your hard earned money and spend it at the mall on some turn-around creme that doesn't turn around shit.
When you don't have self-esteem you will hesitate before you do anything in your life. You will hesitate to go for the job you really wanna go for, you will hesitate to ask for a raise, you will hesitate to call yourself an American, you will hesitate to report a rape, you will hesitate to defend yourself when you are discriminated against because of your race, your sexuality, your size, your gender. You will hesitate to vote, you will hesitate to dream. For us to have self-esteem is truly an act of revolution and our revolution is long overdue.
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Margaret Cho
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If you wish to get rich, save what you get. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage.
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Brigham Young
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There is a gigantic difference between earning a great deal of money and being rich" Under a picture of a mom holding a baby :-)
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Marlene Dietrich
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I have no idea why I write. The old standards are: I like to express my feelings, stretch my imagination, earn money.
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S.E. Hinton
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It is a sad fact about our culture that a poet can earn much more money writing or talking about his art than he can by practicing it.
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W.H. Auden
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Death is a long process," Archer says. "Your body is just the first part of you that croaks." Meaning: Beyond that, your dreams have to die. Then your expectations. And your anger about investing a lifetime in learning shit and loving people and earning money, only to have all that crap come to basically nothing. Really, your physical body dying is the easy part. Beyond that, your memories must die. And your ego. Your pride and shame and ambition and hope, all that Personal Identity Crap can take centuries to expire.
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Chuck Palahniuk (Damned (Damned, #1))
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Many have given up. They stay home and watch the TV screen, living on the earnings of their parents, cousins, bothers, or uncles, and only leave the house to go to the movies or to the nearest bar. "How're you making it?" on may ask, running into them along the block, or in the bar. "Oh, I'm TV-ing it"; with the saddest, sweetest, most shamefaced of smiles, and from a great distance. This distance one is compelled to respect; anyone who has traveled so far will not easily be dragged again into the world. There are further retreats, of course, than the TV screen or the bar. There are those who are simply sitting on their stoops, "stoned," animated for a moment only, and hideously, by the approach of someone who may lend them the money for a "fix." Or by the approach of someone from whom they can purchase it, one of the shrewd ones, on the way to prison or just coming out.
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James Baldwin (Nobody Knows My Name)
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Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like.
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Will Smith
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There's only one good reason to be a writer-we can't help it! We'd all like to be rich, famous and successful, but if those are our goals, we're off on a wrong foot...I just wanted to earn enough money so I could work at home on my writing.
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Phyllis A. Whitney
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I remember the rules, rules that were never spelled out but every woman knew: Don't open your door to a stranger, even if he says he is the police. Make him slide his ID under the door. Don't stop on the road to help a motorist pretending to be in trouble. Keep the locks on and keep going. If anyone whistles, don't turn to look. Don't go into a laundromat, by yourself, at night.
I think about laundromats. What I wore to them: shorts, jeans, jogging pants. What I put into them: my own clothes, my own soap, my own money, money I had earned myself. I think about having such control.
Now we walk along the same street, in red pairs, and not man shouts obscenities at us, speaks to us, touches us. No one whistles.
There is more than one kind of freedom, said Aunt Lydia. Freedom to and freedom from.
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Margaret Atwood (The Handmaid’s Tale (The Handmaid's Tale, #1))
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The goal of life is not the earning of money, but the service of God.p.114
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Ramakrishna
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Never spend any of your hard-earned money on clothes and accessories. You need to get yourself a mayyin to buy all that for you.
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John Berendt (Midnight in the Garden of Good and Evil)
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We bore ourselves in order to earn money that we'll later spend on trying to de-bore ourselves
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Tom Hodgkinson (How To Be Free)
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Yes, when you are passionate about something, it shows. There is no point doing something that does not make you feel happy just to earn money. If you hate what you are doing, you are then just wasting your life,
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Preeti Shenoy (It Happens for a Reason)
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Less ego, more wealth. Saving money is the gap between your ego and your income, and wealth is what you don’t see. So wealth is created by suppressing what you could buy today in order to have more stuff or more options in the future. No matter how much you earn, you will never build wealth unless you can put a lid on how much fun you can have with your money right now, today.
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Morgan Housel (The Psychology of Money)
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There's a lot to consider at the intersection of business and social work. It's about earning a lot of money while adding a lot of value to peoples lives and making the world a better place.
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Hendrith Vanlon Smith Jr.
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Don't let someone spend money who never earned it.
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Nick Cole (The Old Man and the Wasteland (The Wasteland Saga, #1))
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I have no friends, no hobbies, and no real purpose aside from earning enough money to pay rent in order to … exist, I guess.
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Ali Hazelwood (Bride)
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The Dresden atrocity, tremendously expensive and meticulously planned, was so meaningless, finally, that only one person on the entire planet got any benefit from it. I am that person. I wrote this book, which earned a lot of money for me and made my reputation, such as it is. One way or another, I got two or three dollars for every person killed. Some business I'm in.
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Kurt Vonnegut Jr. (Palm Sunday: An Autobiographical Collage)
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If you have money, power, and status today, it is due to the century and place in which you were born, to your talents and capacities and health, none of which you earned. In short, all your resources are in the end the gift of God.
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Timothy J. Keller (Generous Justice: How God's Grace Makes Us Just)
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The problem for a lot of people is that they don't really know what they want. They have vague desire: to 'do something creative' or to earn more money or 'to be free', but they can't really pin down what it is precisely that they want.
So they drift from one thing to another, enjoying some moments and hating others, but never really finding fulfillment or success. (..)
This is why it's hard to lead a successful life (whatever that means to you) when you don't know what you want.
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John C. Parkin (F**k It: The Ultimate Spiritual Way)
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Reading is awesome and flexible and fits around chores and earning money and building the future and whatever else I’m doing that day. My attitude towards reading is entirely Epicurean—reading is pleasure and I pursue it purely because I like it.
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Jo Walton
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We do not have to spend money and go hungry and struggle and study to become sensual; we always were. We need not believe we must somehow earn good erotic care; we always deserved it.
Femaleness and its sexuality are beautiful. Women have long secretly suspected as much. In that sexuality, women are physically beautiful already; superb; breathtaking.
Many, many men see this way too. A man who wants to define himself as a real lover of women admires what shows of her past on a woman's face, before she ever saw him, and the adventures and stresses that her body has undergone, the scars of trauma, the changes of childbirth, her distinguishing characteristics, the light is her expression. The number of men who already see in this way is far greater than the arbiters of mass culture would lead us to believe, since the story they need to tell ends with the opposite moral.
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Naomi Wolf (The Beauty Myth)
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Get to know two things about a man. How he earns his money and how he spends it. You will then have the clue to his character. You will have a searchlight that shows up the inmost recesses of his soul. You know all you need to know about his standards, his motives, his driving desires, his real religion.
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Robert J. McCracken
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America believes in education: the average professor earns more money in a year than a professional athlete earns in a whole week.
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Evan Esar
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When a destitute mother starts earning an income, her dreams of success invariably center around her children. A woman's second priority is the household. She wants to buy utensils, build a stronger roof, or find a bed for herself and her family. A man has an entirely different set of priorities. When a destitute father earns extra income, he focuses more attention on himself. Thus money entering a household through a woman brings more benefits to the family as a whole.
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Muhammad Yunus (Banker to the Poor: Micro-Lending and the Battle Against World Poverty)
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Among the many other questions raised by the nebulous concept of “greed” is why it is a term applied almost exclusively to those who want to earn more money or to keep what they have already earned—never to those wanting to take other people’s money in taxes or to those wishing to live on the largesse dispensed from such taxation. No amount of taxation is ever described as “greed” on the part of government or the clientele of government.
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Thomas Sowell (The Vision of the Anointed: Self-Congratulation as a Basis for Social Policy)
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Our contradictions. We are in such a hurry to grow up, and then we long for our lost childhood. We make ourselves ill earning money, and then spend all our money on getting well again. We think so much about the future that we neglect the present, and thus experience neither the present nor the future. We live as if we were never going to die, and die as if we had never lived.
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Paulo Coelho
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I no longer believe love works like a fairy tale but like farming. Most of it is just getting up early and tilling the soil and then praying for rain. But if we do the work, we just might wake up one day to find an endless field of crops rolling into the horizon. In my opinion, that’s even better than a miracle. I’d rather earn the money than win the lottery because there’s no joy in a reward unless it comes at the end of a story.
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Donald Miller (Scary Close: Dropping the Act and Acquiring a Taste for True Intimacy)
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Those who think money can't buy happiness just don't know where to shop … People would be happier and healthier if they took more time off and spent it with their family and friends, yet America has long been heading in the opposite direction. People would be happier if they reduced their commuting time, even if it meant living in smaller houses, yet American trends are toward even larger houses and ever longer commutes. People would be happier and healthier if they took longer vacations even if that meant earning less, yet vacation times are shrinking in the United States, and in Europe as well. People would be happier, and in the long run and wealthier, if they bought basic functional appliances, automobiles, and wristwatches, and invested the money they saved for future consumption; yet, Americans and in particular spend almost everything they have – and sometimes more – on goods for present consumption, often paying a large premium for designer names and superfluous features.
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Jonathan Haidt (The Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom)
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In spite of the deep-seated craving for love, almost everything else is considered to be more important than love: success, prestige, money, power-almost all our energy is used for the learning of how to achieve these aims, and almost none to learn the art of loving.
Could it be that only those things are considered worthy of being learned with which one can earn money or prestige, and that love, which "only" profits the soul, but is profitless in the modern sense, is a luxury we have no right to spend energy on?
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Erich Fromm
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So now you know where to shop. Stop trying to keep up with the Joneses. Stop wasting your money on conspicuous consumption. As a first step, work less, earn less, accumulate less, and “consume” more family time, vacations, and other enjoyable activities.
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Jonathan Haidt (The Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom)
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The young all have the same dream: to save the world. Some quickly forget this dream, convinced that there are more important things to do, like having a family, earning money, traveling, and learning a foreign language. Others, though, decide that it really is possible to make a difference in society and to shape the world we will hand on to future generations.
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Paulo Coelho (The Winner Stands Alone)
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Our leaders strain every nerve and with success, to get the next war going, while the rest of us, meanwhile, dance the fox trot, earn money and eat chocolates...And perhaps...it has always been the same and always will be, and what is called history at school, and all we learn by heart there about heroes and geniuses and great deeds and fine emotions, is all nothing but a swindle invented by the schoolmasters for educational reasons to keep children occupied for a given number of years. It has always been so and always will be. Time and the world, money and power belong to the small people and shallow people. To the rest, to the real men belongs nothing...eternity...it isn't fame. Fame exists in that sense only for the schoolmasters. No, it isn't fame. It is what I call eternity...The music of Mozart belongs there and the poetry of your great poets. The saints, too, belong there, who have worked wonders and suffered martyrdom and given a great example to men. But the image of every true act, the strength of every true feeling, belongs to eternity just as much, even though no one knows of it or sees it or records it or hands it down to posterity. In eternity there is no posterity...It is the kingdom on the other side of time and appearances. It is there we belong. There is our home. It is that which our heart strives for...And we have no one to guide us. Our only guide is our homesickness.
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Hermann Hesse (Steppenwolf)
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In oppressing, one becomes oppressed. Men are enchained by reason of their very sovereignty; it is because they alone earn money that their wives demand checks, it is because they alone engage in a business or profession that their wives require them to be successful, it is because they alone embody transcendence that their wives wish to rob them of it by taking charge...
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Simone de Beauvoir (The Second Sex)
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Money has become the grand test of virtue. By this test beggars fail, and for this they are despised. If one could earn even ten pounds a week at begging, it would become a respectable profession immediately. A beggar, looked at realistically, is simply a businessman, getting his living, like other businessmen, in the way that comes to hand. He has not, more than most modem people, sold his honour; he has merely made the mistake of choosing a trade at which it is impossible to grow rich.
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George Orwell (Down and Out in Paris and London)
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A man approaching retirement called the retirement office to inquire about his pension. Afterward, he was asked if his wife worked. “She’s worked all her life making me happy”, he replied. “Yes sir, but has she earned money to receive her pension?” “When we got married we agreed on an arrangement”, he said. “I would earn the living, and she would make the living worthwhile”.
“Make the living worthwhile”…have we forgotten the very essence of that? Have we forgotten to live for someone else, that doing so IS what makes a living worthwhile?
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Kelly Crawford
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Why didn’t you dare it before? he asked harshly.
When I hadn’t a job? When I was starving? When I was just as I am now, as a man, as an artist, the same Martin Eden? That’s the question. I’ve been asking myself for many a day. My brain is the same old brain. And what is puzzling me is why they want me now. Surely they don’t want me for myself, for myself the same olf self they did not want. They must want me for something else, for something that is outside of me, for something that is not I. Shall I tell you what that something is? It is for the recognition I have recieved. That recognition is not I. Then again for the money I have earned and am earnin. But money is not I. And is it for the recognition and money, that you now want me?
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Jack London (Мартин Иден)
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The acquisition by dishonest means and cunning,' said Levin, feeling that he was incapable of clearly defining the borderline between honesty and dishonesty. 'Like the profits made by banks,' he went on. 'This is evil, I mean, the acquisition of enormous fortunes without work, as it used to be with the spirit monopolists. Only the form has changed. Le roi est mort, vive le roi! Hardly were the monopolies abolished before railways and banks appeared: just another way of making money without work.
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Leo Tolstoy (Anna Karenina)
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Buy Experiences Not Goods. Want to buy happiness? Then spend your hard-earned cash on experiences. Go out for a meal. Go to a concert, cinema or theatre. Go on holiday. Go and learn how to pole dance. Go paintballing. Go bungee jumping. In fact, get involved in anything that provides an opportunity to do things with others, and then tell even more people about it afterwards. When it comes to happiness, remember that it is experiences that represent really good value for money.
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Richard Wiseman (59 Seconds: Think a Little, Change a Lot)
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Has it ever happened, you’ve seen a striking film, beautifully written and acted and photographed, that you walk out of the theater glad to be a human being and you say to yourself I hope they make a lot of money from that? I hope the actors, I hope the director earns a million dollars for what they’ve done, what they’ve given me tonight? And you go back and see the movie again and you’re happy to be a tiny part of the system that is rewarding those people with every ticket...the actors I see on the screen, they’ll get twenty cents of this very dollar I’m paying now; they’ll be able to buy an ice cream cone any flavor they want from their share of my ticket alone. Glorious moments in art in books and films and dance, they’re delicious because we see ourselves in glory’s mirror.
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Richard Bach (The Bridge Across Forever: A True Love Story)
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In this way, we end up spending (as Thoreau put it) “the best part of one’s life earning money in order to enjoy a questionable liberty during the least valuable part of it.” We’d love to drop all and explore the world outside, we tell ourselves, but the time never seems right. Thus, given an unlimited amount of choices, we make none. Settling into our lives, we get so obsessed with holding on to our domestic certainties that we forget why we desired them in the first place.
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Rolf Potts (Vagabonding: An Uncommon Guide to the Art of Long-Term World Travel)
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The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles. But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that’d still be keeping his feet dry in ten years’ time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet. This was the Captain Samuel Vimes “Boots” theory of socioeconomic unfairness.
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Terry Pratchett
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Developing mental strength isn’t about having to be the best at everything. It also isn’t about earning the most money or achieving the biggest accomplishments. Instead, developing mental strength means knowing that you’ll be okay no matter what happens. Whether you’re facing serious personal problems, a financial crisis, or a family tragedy, you’ll be best prepared for whatever circumstances you encounter when you’re mentally strong. Not only will you be ready to deal with the realities of life, but you’ll be able to live according to your values no matter what life throws your way.
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Amy Morin (13 Things Mentally Strong People Don't Do: Take Back Your Power, Embrace Change, Face Your Fears, and Train Your Brain for Happiness and Success)
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At a party given by a billionaire on Shelter Island, Kurt Vonnegut informs his pal, Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch-22 over its whole history. Heller responds, “Yes, but I have something he will never have … enough.” Enough. I was stunned by the simple eloquence of that word—stunned for two reasons: first, because I have been given so much in my own life and, second, because Joseph Heller couldn’t have been more accurate. For a critical element of our society, including many of the wealthiest and most powerful among us, there seems to be no limit today on what enough entails.
”
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Morgan Housel (The Psychology of Money)
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For the rest of history, for most of us, our bright promise will always fall short of being actualised; it will never earn us bountiful sums of money or beget exemplary objects or organisations....
Most of us stand poised at the edge of brilliance, haunted by the knowledge of our proximity, yet still demonstrably on the wrong side of the line, our dealings with reality undermined by a range of minor yet critical psychological flaws (a little too much optimism, an unprocessed rebelliousness, a fatal impatience or sentimentality). We are like an exquisite high-speed aircraft which for lack of a tiny part is left stranded beside the runway, rendered slower than a tractor or a bicycle.
”
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Alain de Botton (The Pleasures and Sorrows of Work)
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No guinea of earned money should go to rebuilding the college on the old plan just as certainly none could be spent upon building a college upon a new plan: therefore the guinea should be earmarked "Rags. Petrol. Matches." And this note should be attached to it. "Take this guinea and with it burn the college to the ground. Set fire to the old hypocrisies. Let the light of the burning building scare the nightingales and incarnadine the willows. And let the daughters of educated men dance round the fire and heap armful upon armful of dead leaves upon the flames. And let their mothers lean from the upper windows and cry, "Let it blaze! Let it blaze! For we have done with this 'education!
”
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Virginia Woolf (Three Guineas)
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How To Tell If Somebody Loves You:
Somebody loves you if they pick an eyelash off of your face or wet a napkin and apply it to your dirty skin. You didn’t ask for these things, but this person went ahead and did it anyway. They don’t want to see you looking like a fool with eyelashes and crumbs on your face. They notice these things. They really look at you and are the first to notice if something is amiss with your beautiful visage!
Somebody loves you if they assume the role of caretaker when you’re sick. Unsure if someone really gives a shit about you? Fake a case of food poisoning and text them being like, “Oh, my God, so sick. Need water.” Depending on their response, you’ll know whether or not they REALLY love you. “That’s terrible. Feel better!” earns you a stay in friendship jail; “Do you need anything? I can come over and bring you get well remedies!” gets you a cozy friendship suite. It’s easy to care about someone when they don’t need you. It’s easy to love them when they’re healthy and don’t ask you for anything beyond change for the parking meter. Being sick is different. Being sick means asking someone to hold your hair back when you vomit. Either love me with vomit in my hair or don’t love me at all.
Somebody loves you if they call you out on your bullshit. They’re not passive, they don’t just let you get away with murder. They know you well enough and care about you enough to ask you to chill out, to bust your balls, to tell you to stop. They aren’t passive observers in your life, they are in the trenches. They have an opinion about your decisions and the things you say and do. They want to be a part of it; they want to be a part of you.
Somebody loves you if they don’t mind the quiet. They don’t mind running errands with you or cleaning your apartment while blasting some annoying music. There’s no pressure, no need to fill the silences. You know how with some of your friends there needs to be some sort of activity for you to hang out? You don’t feel comfortable just shooting the shit and watching bad reality TV with them. You need something that will keep the both of you busy to ensure there won’t be a void. That’s not love. That’s “Hey, babe! I like you okay. Do you wanna grab lunch? I think we have enough to talk about to fill two hours!" It’s a damn dream when you find someone you can do nothing with. Whether you’re skydiving together or sitting at home and doing different things, it’s always comfortable. That is fucking love.
Somebody loves you if they want you to be happy, even if that involves something that doesn’t benefit them. They realize the things you need to do in order to be content and come to terms with the fact that it might not include them. Never underestimate the gift of understanding. When there are so many people who are selfish and equate relationships as something that only must make them happy, having someone around who can take their needs out of any given situation if they need to.
Somebody loves you if they can order you food without having to be told what you want. Somebody loves you if they rub your back at any given moment. Somebody loves you if they give you oral sex without expecting anything back. Somebody loves you if they don’t care about your job or how much money you make. It’s a relationship where no one is selling something to the other. No one is the prostitute. Somebody loves you if they’ll watch a movie starring Kate Hudson because you really really want to see it. Somebody loves you if they’re able to create their own separate world with you, away from the internet and your job and family and friends. Just you and them.
Somebody will always love you. If you don’t think this is true, then you’re not paying close enough attention.
”
”
Ryan O'Connell
“
It is worth saying something about the social position of beggars, for when one has consorted with them, and found that they are ordinary human beings, one cannot help being struck by the curious attitude that society takes towards them. People seem to feel that there is some essential difference between beggars and ordinary 'working' men. They are a race apart--outcasts, like criminals and prostitutes. Working men 'work', beggars do not 'work'; they are parasites, worthless in their very nature. It is taken for granted that a beggar does not 'earn' his living, as a bricklayer or a literary critic 'earns' his. He is a mere social excrescence, tolerated because we live in a humane age, but essentially despicable.
Yet if one looks closely one sees that there is no ESSENTIAL difference between a beggar's livelihood and that of numberless respectable people. Beggars do not work, it is said; but, then, what is WORK? A navvy works by swinging a pick. An accountant works by adding up figures. A beggar works by standing out of doors in all weathers and getting varicose veins, chronic bronchitis, etc. It is a trade like any other; quite useless, of course--but, then, many reputable trades are quite useless. And as a social type a beggar compares well with scores of others. He is honest compared with the sellers of most patent medicines, high-minded compared with a Sunday newspaper proprietor, amiable compared with a hire-purchase tout--in short, a parasite, but a fairly harmless parasite. He seldom extracts more than a bare living from the community, and, what should justify him according to our ethical ideas, he pays for it over and over in suffering. I do not think there is anything about a beggar that sets him in a different class from other people, or gives most modern men the right to despise him.
Then the question arises, Why are beggars despised?--for they are despised, universally. I believe it is for the simple reason that they fail to earn a decent living. In practice nobody cares whether work is useful or useless, productive or parasitic; the sole thing demanded is that it shall be profitable. In all the modem talk about energy, efficiency, social service and the rest of it, what meaning is there except 'Get money, get it legally, and get a lot of it'? Money has become the grand test of virtue. By this test beggars fail, and for this they are despised. If one could earn even ten pounds a week at begging, it would become a respectable profession immediately. A beggar, looked at realistically, is simply a businessman, getting his living, like other businessmen, in the way that comes to hand. He has not, more than most modem people, sold his honour; he has merely made the mistake of choosing a trade at which it is impossible to grow rich.
”
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George Orwell (Down and Out in Paris and London)
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Every problem that we have in society has a suite of relative solutions that are also business opportunities.
Agricultural waste is a problem. But solving that problem is a business opportunity. Energy inefficiency is a problem. But solving that problem is a business opportunity. The abusive treatment of animals is a problem. But solving that problem is a business opportunity. Reduced biodiversity is a problem. But solving that problem is a business opportunity. Plastic waste in the ocean is a problem. But solving that problem is a business opportunity. And the list goes on indefinitely. We just have to think creatively and fluidly and we can solve all of these problems that plague Earth and we can grow businesses and earn money and provide for our families in the process.
”
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Hendrith Vanlon Smith Jr.
“
The more government takes in taxes, the less incentive people have to work. What coal miner or assembly-line worker jumps at the offer of overtime when he knows Uncle Sam is going to take sixty percent or more of his extra pay? . . . Any system that penalizes success and accomplishment is wrong. Any system that discourages work, discourages productivity, discourages economic progress, is wrong. If, on the other hand, you reduce tax rates and allow people to spend or save more of what they earn, they’ll be more industrious; they’ll have more incentive to work hard, and money they earn will add fuel to the great economic machine that energizes our national progress. The result: more prosperity for all—and more revenue for government.4
”
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Donald J. Trump (Time to Get Tough: Make America Great Again!)
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...the poor get poorer, the rich get richer, and the real class divide is between those who can borrow money and those who can’t. Because no matter how much money anyone earns, they still lie awake at the end of the month worrying about money. Everyone looks at what their neighbors have and wonders, ‘How can they afford that?’ because everyone is living beyond their means. So not even really rich people ever feel really rich, because in the end the only thing you can buy is a more expensive version of something you’ve already got. With borrowed money.
”
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Fredrik Backman (Anxious People)
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And a mortgage used to be something you were expected to repay. But now that every other middle-income family has a mortgage for an amount they couldn't possibly save up in their lifetimes, then the bank isn't lending money anymore. It's offering financing. And then homes are no longer homes. They're investments.
...It means that the poor get poorer, the rich get richer, and the real class divide is between those who can borrow money and those who can't. Because no matter how much money anyone earns, they still lie awake at the end of the month worrying about money. Everyone looks at what their neighbors have and wonders, "How can they afford that?" because everyone is living beyond their means. So not even really rich people ever feel really rich, because in the end the only thing you can buy is a more expensive version of something you've already got. With borrowed money.
”
”
Fredrik Backman (Anxious People)
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Understanding America for the Non-American Black: Thoughts on the Special White Friend
One great gift for the Zipped-Up Negro is The White Friend Who Gets It. Sadly, this is not as common as one would wish, but some are lucky to have that white friend who you don’t need to explain shit to. By all means, put this friend to work. Such friends not only get it, but also have great bullshit-detectors and so they totally understand that they can say stuff that you can’t. So there is, in much of America, a stealthy little notion lying in the hearts of many: that white people earned their place at jobs and schools while black people got in because they were black. But in fact, since the beginning of America, white people have been getting jobs because they were white. Many whites with the same qualifications but Negro skin would not have the jobs they have. But don’t ever say this publicly. Let your white friend say it. If you make the mistake of saying this, you will be accused of a curiosity called “playing the race card.” Nobody quite knows what this means.
When my father was in school in my NAB (Non American Black) country, many American Blacks could not vote or go to good schools. The reason? Their skin color. Skin color alone was the problem. Today, many Americans say that skin color cannot be part of the solution. Otherwise it is referred to as a curiosity called “reverse racism.” Have your white friend point out how the American Black deal is kind of like you’ve been unjustly imprisoned for many years, then all of a sudden you’re set free, but you get no bus fare. And, by the way, you and the guy who imprisoned you are now automatically equal. If the “slavery was so long ago” thing comes up, have your white friend say that lots of white folks are still inheriting money that their families made a hundred years ago. So if that legacy lives, why not the legacy of slavery? And have your white friend say how funny it is, that American pollsters ask white and black people if racism is over. White people in general say it is over and black people in general say it is not. Funny indeed. More suggestions for what you should have your white friend say? Please post away. And here’s to all the white friends who get it.
”
”
Chimamanda Ngozi Adichie (Americanah)
“
Here it is. You assume that I am rich; I am not. I shall have nothing once I have emptied my purse. You perhaps suppose that I am a man of high birth, and I am of a rank either lower than your own or equal to it. I have no talent which can earn money, no employment, no reason to be sure that I shall have anything to eat a few months hence. I have neither relatives nor friends nor rightful claims nor any settled plan. In short, all that I have is youth, health, courage, a modicum of intelligence, a sense of honor and of decency, with a little reading and the bare beginnings of a career in literature. My great treasure is that I am my own master, that I am not dependent upon anyone, and that I am not afraid of misfortunes. My nature tends toward extravagance. Such is the man I am. Now answer me, my beautiful Teresa.
”
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Giacomo Casanova
“
We wander in our thousands over the
face of the earth, the illustrious and the obscure, earning beyond the
seas our fame, our money, or only a crust of bread; but it seems to me
that for each of us going home must be like going to render an account.
We return to face our superiors, our kindred, our friends--those whom we
obey, and those whom we love; but even they who have neither, the most
free, lonely, irresponsible and bereft of ties,--even those for whom
home holds no dear face, no familiar voice,--even they have to meet the
spirit that dwells within the land, under its sky, in its air, in its
valleys, and on its rises, in its fields, in its waters and its trees--a
mute friend, judge, and inspirer.
”
”
Joseph Conrad (Lord Jim)
“
Now I buy prostitutes instead. It's obvious as soon as I undress they'll take no pleasure earning money from me. But they need the money just like I need to rub my husk against them. And I imagine they think that they've tasted worse and have been tasted by worse.
You don't know what it means to feel my chapped, disfigured lips and cock and hands saw away at something so downy. It's inexplicable. That's why it's hard for me to talk about the fact that my disease is so contagious a little peck on the cheek is enough to almost guarantee transmission.
In a few weeks, all the prostitutes I've hired will be the last boys on earth whom anyone would pay. Not long after I'm dead, they'll be dead. Some nights I fantasize about telling them what saints they are, but I don't. Still, there are times when I almost get the feeling they know.
”
”
Dennis Cooper
“
His specialty was alfalfa, and he made a good thing out of not growing any. The government paid him well for every bushel of alfalfa he did not grow. The more alfalfa he did not grow, the more money the government gave him, and he spent every penny he didn't earn on new land to increase the amount of alfalfa he did not produce. Major Major's father worked without rest at not growing alfalfa. On long winter evenings he remained indoors and did not mend harness, and he sprang out of bed at the crack of noon every day just to make certain that the chores would not be done. He invested in land wisely and soon was not growing more alfalfa than any other man in the county. Neighbours sought him out for advice on all subjects, for he had made much money and was therefore wise. “As ye sow, so shall ye reap,” he counselled one and all, and everyone said “Amen.
”
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Joseph Heller (Catch-22)
“
The ones whose light will remain with me long after they have burnt out are the ones that had grace. Because it's rare that the gift comes with grace. Some of the biggest arseholes I've ever met are the most gifted. Because it's "pretty girl" syndrome. Being gifted is like being born beautiful. You don't have to work a day in a year in your life for it. You were born with it. In one sense, it's like blue blood, money, gift, or beauty. They are the things that should make you the most humble, because they are not the things you have earned. They are the things you were given. Yet, it is my experience that they male people the most spoiled. And the people who work the hardest, and who have overcome the most obstacles on their life, who have reason to beat their breasts are the most humble, sometimes. I can't get over that. it's bewildering to me. To make it through success and still have manners, to still have curiosity, intellectual curiosity, to still have some grace, to keep your dignity, that is really... rare.
”
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Bono (Bono: In Conversation with Michka Assayas)
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That girls should not marry for money we are all agreed. A lady who can sell herself for a title or an estate, for an income or a set of family diamonds, treats herself as a farmer treats his sheep and oxen — makes hardly more of herself, of her own inner self, in which are comprised a mind and soul, than the poor wretch of her own sex who earns her bread in the lowest stage of degradation. But a title, and an estate, and an income, are matters which will weigh in the balance with all Eve’s daughters — as they do with all Adam’s sons. Pride of place, and the power of living well in front of the world’s eye, are dear to us all; — are, doubtless, intended to be dear. Only in acknowledging so much, let us remember that there are prices at which these good things may be too costly.
”
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Anthony Trollope (Complete Works of Anthony Trollope)
“
Right-wing women have surveyed the world: they find it a dangerous place. They see that work subjects them to more danger from more men; it increases the risk of sexual exploitation. They see that creativity and originality in their kind are ridiculed; they see women thrown out of the circle of male civilization for having ideas, plans, visions, ambitions. They see that traditional marriage means selling to one man, not hundreds: the better deal. They see that the streets are cold, and that the women on them are tired, sick, and bruised. They see that the money they can earn will not make them independent of men and that they will still have to play the sex games of their kind: at home and at work too. They see no way to make their bodies authentically their own and to survive in the world of men. They know too that the Left has nothing better to offer: leftist men also want wives and whores; leftist men value whores too much and wives too little. Right-wing women are not wrong. They fear that the Left, in stressing impersonal sex and promiscuity as values, will make them more vulnerable to male sexual aggression, and that they will be despised for not liking it. They are not wrong. Right-wing women see that within the system in which they live they cannot make their bodies their own, but they can agree to privatized male ownership: keep it one-on-one, as it were. They know that they are valued for their sex— their sex organs and their reproductive capacity—and so they try to up their value: through cooperation, manipulation, conformity; through displays of affection or attempts at friendship; through submission and obedience; and especially through the use of euphemism—“femininity, ” “total woman, ” “good, ” “maternal instinct, ” “motherly love. ” Their desperation is quiet; they hide their bruises of body and heart; they dress carefully and have good manners; they suffer, they love God, they follow the rules. They see that intelligence displayed in a woman is a flaw, that intelligence realized in a woman is a crime. They see the world they live in and they are not wrong. They use sex and babies to stay valuable because they need a home, food, clothing. They use the traditional intelligence of the female—animal, not human: they do what they have to to survive.
”
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Andrea Dworkin (Right-Wing Women)
“
You may have a success in life, but then just think of it - what kind of life was it? What good was it - you've never done the thing you wanted to do in all your life. I always tell my students, go where your body and soul want to go. When you have the feeling, then stay with it, and don't let anyone throw you off…. The way to find out about your happiness is to keep your mind on those moments when you feel most happy, when you really are happy - not excited, not just thrilled, but deeply happy. This requires a little bit of self-analysis. What is it that makes you happy? Stay with it, no matter what people tell you. This is what I call "following your bliss"... There’s something inside you that knows when you’re in the center, that knows when you’re on the beam or off the beam. And if you get off the beam to earn money, you’ve lost your life. And if you stay in the center and don’t get any money, you still have your bliss.
”
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Joseph Campbell (The Power of Myth)
“
Moderately fast growers (20 to 25 percent) in nongrowth industries are ideal investments. • Look for companies with niches. • When purchasing depressed stocks in troubled companies, seek out the ones with the superior financial positions and avoid the ones with loads of bank debt. • Companies that have no debt can’t go bankrupt. • Managerial ability may be important, but it’s quite difficult to assess. Base your purchases on the company’s prospects, not on the president’s resume or speaking ability. • A lot of money can be made when a troubled company turns around. • Carefully consider the price-earnings ratio. If the stock is grossly overpriced, even if everything else goes right, you won’t make any money. • Find a story line to follow as a way of monitoring a company’s progress. • Look for companies that consistently buy back their own shares.
”
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Peter Lynch (One Up On Wall Street: How To Use What You Already Know To Make Money In)
“
Let me outline briefly as I can what seem to me the characteristics of these opposite kinds of mind. I conceive a strip-miner to be a model exploiter, and as a model nurturer I take the old-fashioned idea or ideal of a farmer. The exploiter is a specialist, an expert; the nurturer is not. The standard of the exploiter is efficiency; the standard of the nurturer is care. The exploiter's goal is money, profit; the nurturer's goal is health -- his land's health, his own, his family's, his community's, his country's. Whereas the exploiter asks of a piece of land only how much and how quickly it can be made to produce, the nurturer asks a question that is much more complex and difficult: What is its carrying capacity? (That is: How much can be taken from it without diminishing it? What can it produce dependably for an indefinite time?) The exploiter wishes to earn as much as possible by as little work as possible; the nurturer expects, certainly, to have a decent living from his work, but his characteristic wish is to work as well as possible. The competence of the exploiter is in organization; that of the nurturer is in order -- a human order, that is, that accommodates itself both to other order and to mystery. The exploiter typically serves an institution or organization; the nurturer serves land, household, community, place. The exploiter thinks in terms of numbers, quantities, "hard facts"; the nurturer in terms of character, condition, quality, kind.
”
”
Wendell Berry (The Unsettling of America: Culture and Agriculture)
“
Major Major's father was a sober God-fearing man whose idea of a good joke was to lie about his age. He was a long-limbed farmer, a God-fearing, freedom-loving, law-abiding rugged individualist who held that federal aid to anyone but farmers was creeping socialism. He advocated thrift and hard work and disapproved of loose women who turned him down. His specialty was alfalfa, and he made a good thing out of not growing any. The government paid him well for every bushel of alfalfa he did not grow. The more alfalfa he did not grow, the more money the government gave him, and he spent every penny he didn't earn on new land to increase the amount of alfalfa he did not produce. Major Major's father worked without rest at not growing alfalfa. On long winter evenings he remained indoors and did not mend harness, and he sprang out of bed at the crack of noon every day just to make certain that the chores would not be done. He invested in land wisely and soon was not growing more alfalfa than any other man in the county. Neighbors sought him out for advice on all subjects, for he had made much money and was therefore wise. “As ye sow, so shall ye reap,” he counseled one and all, and everyone said, “Amen.
”
”
Joseph Heller (Catch-22)
“
When she decided to get a job, she rejected a tempting offer from a company that had just been set up in her recently created country in favor of a job at the public library, where you didn’t earn much money but where you were secure. She went to work every day, always keeping to the same timetable, always making sure she wasn’t perceived as a threat by her superiors; she was content; she didn’t struggle, and so she didn’t grow: All she wanted was her salary at the end of the month.
She rented the room in the convent because the nuns required all tenants to be back at a certain hour, and then they locked the door: Anyone still outside after that had to sleep on the street. She always had a genuine excuse to give boyfriends, so as not to have to spend the night in hotel rooms or strange beds.
When she used to dream of getting married, she imagined herself in a little house outside Ljubljana, with a man quite different from her father—a man who earned enough to support his family, one who would be content just to be with her in a house with an open fire and to look out at the snow-covered mountains.
She had taught herself to give men a precise amount of pleasure; never more, never less, only what was necessary. She didn’t get angry with anyone, because that would mean having to react, having to do battle with the enemy and then having to face unforeseen consequences, such as vengeance.
When she had achieved almost everything she wanted in life, she had reached the conclusion that her existence had no meaning, because every day was the same. And she had decided to die.
”
”
Paulo Coelho (Veronika Decides to Die)
“
Wisdom is really the key to wealth. With great wisdom, comes great wealth and success. Rather than pursuing wealth, pursue wisdom. The aggressive pursuit of wealth can lead to disappointment.
Wisdom is defined as the quality of having experience, and being able to discern or judge what is true, right, or lasting. Wisdom is basically the practical application of knowledge.
Rich people have small TVs and big libraries, and poor people have small libraries and big TVs.
Become completely focused on one subject and study the subject for a long period of time. Don't skip around from one subject to the next.
The problem is generally not money. Jesus taught that the problem was attachment to possessions and dependence on money rather than dependence on God.
Those who love people, acquire wealth so they can give generously. After all, money feeds, shelters, and clothes people.
They key is to work extremely hard for a short period of time (1-5 years), create abundant wealth, and then make money work hard for you through wise investments that yield a passive income for life.
Don't let the opinions of the average man sway you. Dream, and he thinks you're crazy. Succeed, and he thinks you're lucky. Acquire wealth, and he thinks you're greedy. Pay no attention. He simply doesn't understand.
Failure is success if we learn from it. Continuing failure eventually leads to success. Those who dare to fail miserably can achieve greatly.
Whenever you pursue a goal, it should be with complete focus. This means no interruptions.
Only when one loves his career and is skilled at it can he truly succeed.
Never rush into an investment without prior research and deliberation.
With preferred shares, investors are guaranteed a dividend forever, while common stocks have variable dividends.
Some regions with very low or no income taxes include the following: Nevada, Texas, Wyoming, Delaware, South Dakota, Cyprus, Liechtenstein, Luxembourg, Panama, San Marino, Seychelles, Isle of Man, Channel Islands, Curaçao, Bahamas, British Virgin Islands, Brunei, Monaco, Qatar, United Arab Emirates, Saudi Arabia, Bahrain, Bermuda, Kuwait, Oman, Andorra, Cayman Islands, Belize, Vanuatu, and Campione d'Italia.
There is only one God who is infinite and supreme above all things. Do not replace that infinite one with finite idols. As frustrated as you may feel due to your life circumstances, do not vent it by cursing God or unnecessarily uttering his name.
Greed leads to poverty. Greed inclines people to act impulsively in hopes of gaining more.
The benefit of giving to the poor is so great that a beggar is actually doing the giver a favor by allowing the person to give. The more I give away, the more that comes back.
Earn as much as you can. Save as much as you can. Invest as much as you can. Give as much as you can.
”
”
H.W. Charles (The Money Code: Become a Millionaire With the Ancient Jewish Code)
“
Most peasants did not miss the school.
"What's the point?" they would say.
"You pay fees and read for years, and in the end you are still a peasant, earning your food with your sweat. You don't get a grain of rice more for being able to read books. Why waste time and money?
Might as well start earning your work points right away."
The virtual absence of any chance of a better future and the near total immobility for anyone born a peasant took the incentive out of the pursuit of knowledge. Children of school age would stay at home to help their families with their work or look after younger brothers and sisters. They would be out in the fields when they were barely in their teens. As for girls, the peasants considered it a complete waste of time for them to go to school.
"They get married and belong to other people. It's like pouring water on the ground."
The Cultural Revolution was trumpeted as having brought education to the peasants through 'evening classes." One day my production team announced it was starting evening classes and asked Nana and me to be the teachers. I was delighted. However, as soon as the first 'class' began, I realized that this was no education.
The classes invariably started with Nana and me being asked by the production team leader to read out articles by Mao or other items from the People's Daily. Then he would make an hour-long speech consisting of all the latest political jargon strung together in undigested and largely unintelligible hunks. Now and then he would give special orders, all solemnly delivered in the name of Mao.
”
”
Jung Chang (Wild Swans: Three Daughters of China)
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More than 2,000 books are dedicated to how Warren Buffett built his fortune. Many of them are wonderful. But few pay enough attention to the simplest fact: Buffett’s fortune isn’t due to just being a good investor, but being a good investor since he was literally a child. As I write this Warren Buffett’s net worth is $84.5 billion. Of that, $84.2 billion was accumulated after his 50th birthday. $81.5 billion came after he qualified for Social Security, in his mid-60s. Warren Buffett is a phenomenal investor. But you miss a key point if you attach all of his success to investing acumen. The real key to his success is that he’s been a phenomenal investor for three quarters of a century. Had he started investing in his 30s and retired in his 60s, few people would have ever heard of him. Consider a little thought experiment. Buffett began serious investing when he was 10 years old. By the time he was 30 he had a net worth of $1 million, or $9.3 million adjusted for inflation.16 What if he was a more normal person, spending his teens and 20s exploring the world and finding his passion, and by age 30 his net worth was, say, $25,000? And let’s say he still went on to earn the extraordinary annual investment returns he’s been able to generate (22% annually), but quit investing and retired at age 60 to play golf and spend time with his grandkids. What would a rough estimate of his net worth be today? Not $84.5 billion. $11.9 million. 99.9% less than his actual net worth. Effectively all of Warren Buffett’s financial success can be tied to the financial base he built in his pubescent years and the longevity he maintained in his geriatric years. His skill is investing, but his secret is time. That’s how compounding works. Think of this another way. Buffett is the richest investor of all time. But he’s not actually the greatest—at least not when measured by average annual returns.
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Morgan Housel (The Psychology of Money)