Successful companies create value by providing products or services their customers value more highly than available alternatives. They do this while consuming fewer resources, leaving more resources available to satisfy other needs in society. Value creation involves making people's lives better. It is contributing to prosperity in society.

I like to think that I try to learn something every day - and change my views, modify my views as I learn.

I've had the philosophy that John Adams expressed, in the kind of system that we're trying to create in this country: that this is a system for moral people. It will work for no other.

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.

If people are teaching economics, they need to teach all the different disciplines, all the different schools in economics. They can't just teach one because then the person isn't equipped to deal with the economics profession.

My father wanted to instill the work ethic. And, because he knew if you don't learn to work to be more productive to improve your efficiency, to cooperate with other people at an early age, you may never learn those habits.

The way - the principle way that human beings had gotten out of extreme poverty is free trade.