The old idea that some genius pulls all of this stuff out of the air is ridiculous. As Ridley pointed out, the only way Edison could invent the lightbulb is because all the elements had been developed before. That's obvious it wasn't just his genius - 20 others developed it at the same time. And that's true for almost every invention and discovery.

If the legislation helps people improve their lives, then that's great because that's the ultimate goal of all of this.

When everyone gets something for nothing, soon no one will have anything, because no one will be producing anything.

What we need to work on is how to increase productivity. And then everybody will be better off.

Citizens who over-rely on their government to do everything not only become dependent on their government, they end up having to do whatever the government demands. In the meantime, their initiative and self-respect are destroyed.

I try to build on our management philosophy. I try to understand what the threats and opportunities are for us. Uh, I try to make sure that we're driving innovation and creative destruction hard enough so we're not blindsided, and that our attitude is to, in starting any initiative, any business, is to focus on how we can create value for others, rather than how we maximize profit, because you can make money focusing on, "How do I maximize profit?"

Most power is power to coerce somebody. We don't have the power to coerce anybody.