What Percentage Of An Essay Should Be Quotes

When writing a novel a writer should create living people; people not characters. A character is a caricature. If a writer can make people live there may be no great characters in his book, but it is possible that his book will remain as a whole; as an entity; as a novel. If the people the writer is making talk of old masters; of music; of modern painting; of letters; or of science then they should talk of those subjects in the novel. If they do not talk of these subjects and the writer makes them talk of them he is a faker, and if he talks about them himself to show how much he knows then he is showing off. No matter how good a phrase or a simile he may have if he puts it in where it is not absolutely necessary and irreplaceable he is spoiling his work for egotism. Prose is architecture, not interior decoration, and the Baroque is over. For a writer to put his own intellectual musings, which he might sell for a low price as essays, into the mouths of artificially constructed characters which are more remunerative when issued as people in a novel is good economics, perhaps, but does not make literature. People in a novel, not skillfully constructed characters, must be projected from the writer’s assimilated experience, from his knowledge, from his head, from his heart and from all there is of him. If he ever has luck as well as seriousness and gets them out entire they will have more than one dimension and they will last a long time. A good writer should know as near everything as possible. Naturally he will not. A great enough writer seems to be born with knowledge. But he really is not; he has only been born with the ability to learn in a quicker ratio to the passage of time than other men and without conscious application, and with an intelligence to accept or reject what is already presented as knowledge. There are some things which cannot be learned quickly and time, which is all we have, must be paid heavily for their acquiring. They are the very simplest things and because it takes a man’s life to know them the little new that each man gets from life is very costly and the only heritage he has to leave. Every novel which is truly written contributes to the total of knowledge which is there at the disposal of the next writer who comes, but the next writer must pay, always, a certain nominal percentage in experience to be able to understand and assimilate what is available as his birthright and what he must, in turn, take his departure from. If a writer of prose knows enough about what he is writing about he may omit things that he knows and the reader, if the writer is writing truly enough, will have a feeling of those things as strongly as though the writer had stated them. The dignity of movement of an ice-berg is due to only one-eighth of it being above water. A writer who omits things because he does not know them only makes hollow places in his writing. A writer who appreciates the seriousness of writing so little that he is anxious to make people see he is formally educated, cultured or well-bred is merely a popinjay. And this too remember; a serious writer is not to be confounded with a solemn writer. A serious writer may be a hawk or a buzzard or even a popinjay, but a solemn writer is always a bloody owl.

If the widget company consistently earned a superior return on capital throughout the period, or if capital employed only doubled during the CEO’s reign, the praise for him may be well deserved. But if return on capital was lackluster and capital employed increased in pace with earnings, applause should be withheld. A savings account in which interest was reinvested would achieve the same year-by-year increase in earnings—and, at only 8% interest, would quadruple its annual earnings in 18 years. The power of this simple math is often ignored by companies to the detriment of their shareholders. Many corporate compensation plans reward managers handsomely for earnings increases produced solely, or in large part, by retained earnings—i.e., earnings withheld from owners. For example, ten-year, fixed-price stock options are granted routinely, often by companies whose dividends are only a small percentage of earnings. An example will illustrate the inequities possible under such circumstances. Let’s suppose that you had a $100,000 savings account earning 8% interest and “managed” by a trustee who could decide each year what portion of the interest you were to be paid in cash. Interest not paid out would be “retained earnings” added to the savings account to compound. And let’s suppose that your trustee, in his superior wisdom, set the “pay-out ratio” at one-quarter of the annual earnings.