In the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.

Money is what fueled the industrial society. But in the informational society, the fuel, the power, is knowledge. One has now come to see a new class structure divided by those who have information and those who must function out of ignorance. This new class has its power not from money, not from land, but from knowledge.

We shall have a race of men who are strong on telemetry and space communications but who cannot read anything but a blueprint or write anything but a computer program.

In central banking as in diplomacy, style, conservative tailoring, and an easy association with the affluent count greatly and results far much less.

Were it part of our everyday education and comment that the corporation is an instrument for the exercise of power, that it belongs to the process by which we are governed, there would then be debate on how that power is used and how it might be made subordinate to the public will and need. This debate is avoided by propagating the myth that the power does not exist.

The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.

Genius is a rising stock market.