If someone really wants my company's business, why shouldn't he be able to do everything he can - including paying me off - to get that business? Because bribery encourages people to make decisions based on the wrong criteria, which means in the business world that it distorts the efficient allocation of resources.
James SurowieckiIf we want our regulators to do better, we have to embrace a simple idea: regulation isn't an obstacle to thriving free markets; it's a vital part of them.
James SurowieckiCorporations hope that the right concept will turn things around overnight. This is what you might call the crash-diet approach: starve yourself for a few days and you'll be thin for life.
James SurowieckiPatrimonial capitalism's legacy is that many people see reform as a euphemism for corruption and self-dealing.
James Surowiecki