There often occurred to me the difference between the Professor of Economics and the business man, as judged by their financial success. The business man may not perhaps be on the same intellectual plane as the professor, but he bases his ideas on real facts and puts the whole power of his will behind their realisation. The professor, on the other hand, often has a false conception of reality and although perhaps having more ideas, is neither able nor anxious to carry them out; the fact that he has them is satisfaction enough. And so the business man has the greater financial success.
Erwin Rommel, edited by B.H. Liddell Hart in The Rommel Papers, 1953.
July 30, 2019
QotD: Business versus economics
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