I didn't think I was good at anything, didn't do well in school. And then in the third grade, I was going to a public school. And the teacher was putting math problems on the board. And I said to myself - it's amazing how you can remember certain incidents at any age that made an impression - I asked myself why is she putting those up when the answers are obvious. And then I saw it wasn't obvious to anybody else in the class. So I said, "Hey, I'm good at something."

You can't start taking away benefits if people don't have any opportunities.

Scientific discoveries and innovation come from combining different existing technologies and different perspectives in a unique way.

Just spreading the money around - that isn't what makes people better off; it's having more and better goods and services.

We needed to be uncompromising with our workforce, to expect 100 percent of our employees to comply 100 percent of the time with complex and ever-changing government mandates. Striving to comply with every law does not mean agreeing with every law. But, even when faced with laws we think are counter-productive, we must first comply. Only then, from a credible position, can we enter into a dialogue with regulatory agencies to demonstrate alternatives that are more beneficial. If these efforts fail, we can then join with others in using education and/or political efforts to change the law.

If we are going to have a Fed, it should not fall into the tyranny of experts with the a fatal conceit that a few wise people can determine interest rates. Interest rates should be driven by the market, and people's time preference, and we see these boom-bust cycles.

As an engineer, I understood that the natural world operated according to fixed laws. Through my studies, I came to realize that there were, likewise, laws that govern human wellbeing. It seemed to me that these laws are fundamental not only to the wellbeing of societies, but also to the miniature societies of organizations. Indeed, that is what we found when we began to apply these principles systematically at Koch Industries. Through our observation of how they could create prosperity in an organization, I began to systematize my beliefs into Market-Based Management.