History tells us that the threat to prosperity is not debt but socialism.

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.

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.

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.

Television is not vulgar because people are vulgar; it is vulgar because people are similar in their prurient interests and sharply differentiated in their civilized concerns.

People cannot be expected to learn one expertise and just apply it routinely in a job. Your expertise is in steadily renewing your knowledge base and extending it to new areas. That lifelong cycle of learning really is the foundation of the new information organization and economy.

History tells us that the threat to prosperity is not debt but socialism.