One percent of people will always be honest and never steal," the locksmith said. "Another one percent will always be dishonest and always try to pick your lock and steal your television. And the rest will be honest as long as the conditions are right - but if they are tempted enough, they'll be dishonest too. Locks won't protect you from the thieves, who can get in your house if they really want to. They will only protect you from the mostly honest people who might be tempted to try your door if it had no lock".

Who would you trust right now? Which bank would you trust? Which investment would you trust? Do you really want to put your money; do you want to suffer more of these losses that we just had? You know, these volatility that we see is just unexplainable by any rational standards. Nobody has any clue about how to explain this, and nobody wants to experience that. So, we hold more money back, we don't necessarily want to invest in the market and by default, people are saving more.

I always found the appeal to the market gods a bit odd. Why would the market fix mistakes instead of aggravating them?

I think we could get people to both be more productive and happier. We're less productive as individuals. We're less productive as companies, and we're more miserable.

People are willing to work free, and they are willing to work for a reasonable wage; but offer them just a small payment and they will walk away.

We should teach the students, as well as executives, how to conduct experiments, how to examine data, and how to use these tools to make better decisions.

The things that motivate us are to help other people, to feel that we're useful, to feel that we're getting better, to feel that we are kind of living to our potential, to get a sense of meaning. All of those things are positive.