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.

Corporations 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.

I do think that procrastination evolved in humans for good reasons. If you're trying to stay alive as a human being on the savanna 20,000 years ago, worrying about what's right behind that bush is a lot more important than worrying about what might happen three weeks from now.

The fact that industries wax and wane is a reality of any economic system that wants to remain dynamic and responsive to people's changing tastes.

Of course, politicians always say they're just describing their opponents' positions, even if they are in fact offering absurd caricatures, if not outright lies.

The smartest groups, then, are made up of people with diverse perspectives who are able to stay independent of each other. Independence doesn't imply rationality or impartiality, though. You can be biased and irrational, but as long as you're independent, you won't make the group any dumber.

I think people don't understand compound interest because typically no one ever explains it to them and the level of financial literacy in the US is very low.