In order to understand the movement of prices, you need not an oscilloscope to measure the entire market and reduce it to noise, but a microscope to investigate the creative process behind every company and its price.

Intelligent design itself does not have any content.

It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them. As Henry Ford said many years earlier: "If I had listened to my customers, I would have built a faster horse." Inventions in general express Shannon entropy. They come from the supply side.

A successful economy depends on the proliferation of the rich, on creating a large class of risk-taking men who are willing to shun the easy channels of a comfortable life in order to create new enterprise, win huge profits, and invest them again.

At the heart of capitalism is the unification of knowledge and power. As Friedrich Hayek, the leader of the Austrian school of economics, put it, "To assume all the knowledge to be given to a single mind... is to disregard everything that is important and significant in the real world." Because knowledge is dispersed, power must be as well.

In a world of dumb terminals and telephones, networks had to be smart. But in a world of smart terminals, networks have to be dumb.

Nothing is more deadly to achievement than the belief that effort will not be rewarded, that the world is a bleak and discriminatory place in which only the predatory and the specially preferred can get ahead.