Corporate welfare, I think, is a disaster for this country. It's crippling our economy. It is contributing to a permanent underclass and corrupting the business community.

I love to try to understand first principles and be guided by that. But then, enrich them, because they won't last forever, just like everybody thought Newton had all the answers. And you probably read that, in the last of the 19th century, Harvard and others were discouraging people from going into physics because we have all the answers. And right after that, of course - we have - all this stuff is thrown out the window. And now we have whole new answers.

I've devoted most of my life to understanding the principles that enable people to improve their lives. It's those principles, the principles of free society, that have shaped my life, my family, our company, and America.

The role of business is to provide products and services that make people's live better - while using fewer resources - and to act lawfully and with integrity. Businesses that do this through voluntary exchanges not only benefit through increased profits, they bring better and more competitively priced goods and services to market. This creates a win-win situation customers and companies alike.

If you never failed, then you're probably not doing very much.

I agree with George Washington's concern about parties: They become an end in themselves, rather than being committed to helping people improve their lives.

Just keep trying things, without really understanding the underlying fibers of well-being, or peace or civility, then you're just going to stumble from one disaster to another.