The most important feature of an information economy, in which information is defined as surprise, is the overthrow, not the attainment, of equilibrium. The science that we have come to know as information theory establishes the supremacy of the entrepreneur because it appreciates the powerful connection between destruction and what Schumpeter described as "creative destruction," between chaos and creativity.

But if the 1 percent and the 0.1 percent are respected and allowed to risk their wealth - and new rebels are allowed to rise up and challenge them - America will continue to be the land where the last regularly become the first by serving others.

If government could create jobs and raise children, socialism would have worked.

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.

When capitalists are thwarted, deflected, or dispossessed, the generals and politicians,... and socialist intellectuals, are always amazed at how quickly the great physical means of production - the contested tokens of wealth and resources of nature - dissolve into so much scrap, ruined concrete, snarled wire, and wilderness.

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.

The prevailing theory of capitalism suffers from one central and disabling flaw, a profound distrust and incomprehension of capitalism.