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 key role of entrepreneurs, like the most crucial role of scientists, is not to fill in the gaps in an existing market or theory, but to generate entirely new markets or theories. . .They stand before a canvas as empty as any painter's; a page as blank as any poet's.

Socialism is an insurance policy bought by all the members of a national economy to shield them from risk. But the result is to shield them from knowledge of the real dangers and opportunities.

Quality is abundant. Time is the new scarcity.

The welfare culture tells the man he is not a necessary part of the family; he feels dispensable, his wife knows he is dispensable, his children sense it.

Activity and creativity almost always flow to the least regulated arena.

Unlike an inexorable, Newtonian "great machine", the economy is not a closed system.