The typical American corporation is a shareholders' republic the same way that China is a peoples' republic.

If being the biggest company was a guarantee of success, we'd all be using IBM computers and driving GM cars.

If 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.

Companies, like people, don't much like to change.

Of course, presidents are always blamed or rewarded for the state of the economy.

The problem is that groups are only smart when the people in them are as independent as possible. This is the paradox of the wisdom of crowds.

In the struggle between capital and labor, more often than not capital has won, because the real source of value for most companies has historically been the hard assets that they owned and controlled.