We demonstrated what you could do when a band of entrepreneurs settles an empty country with vast resources. The Chinese have a billion people and are running out of water. Tougher problem for sure.

Credit is the air that financial markets breathe, and when the air is poisoned, there's no place to hide.

We demonstrated what you could do when a band of entrepreneurs settles an empty country with vast resources. The Chinese have a billion people and are running out of water. Tougher problem for sure.

The kind of precision manufacturing epitomized in the armories, while it was important, was only a small share of the economy until quite late in the century. Large-scale natural resource development and processing was the name of the game.

merica was middle-class for the very start - the people who came first were hyper-strivers from England. There were no vested interests, no ranks, no classes, it was very lightly populated, there were unlimited natural resources - for free essentially - if you failed, you could always start over.

I've been among their critics [MBA programs]. Much of what I've seen in business schools is quite non-rigorous. Anecdotal histories are stretched to illustrate favored slogans. Evidence of their effectiveness is similarly anecdotal.

John D. Rockefeller was certainly the first to create a consumer product that was sold literally throughout the entire world. Those blue 5-gallon cans showed up in some of the remotest parts of the world.