Embrace change. Envision what could be, challenge the status quo, and drive creative destruction.

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.

The problem is, to have prices fall would work fine if we didn't have all these built in rigidities on downward prices, because then things don't adjust, and that's how we have recessions and depressions, is prices and costs don't adjust together and they get out of whack, and we end up with dislocations.

My philosophy, one of the biggest enemies of future success is past success, because you become complacent, you become risk averse, and that's one of the things we try to drive here, and this is fundamental to this philosophy, and that's in this component change, and also in value creation. That we need to drive creative destruction, not just incremental innovations, but innovations that will change the whole nature of the business.

Repeatedly asking for government help undermines the foundations of society by destroying initiative and responsibility. It is also a fatal blow to efficiency and corrupts the political process.

No centralized government, no matter how big, how smart or how powerful, can effectively and efficiently control much of society in a beneficial way. On the contrary, big governments are inherently inefficient and harmful.

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.