Venture capital has done much more, I think, to improve efficiency than anything.

I think that systems that are based on employment are illogical and attempts to meet them create all sorts of unnecessary complexities.

Unsolved problems, that's one of the great signs of progress in my opinion.

The MD is well aware that the forecasts are no good but he needs them for planning purposes.

It seems to me that at least as far as the financial markets are concerned, there is increasing evidence against rational expectations, even at the macro level.

We have to be more modest in what we claim.

I think one of the things we learned from the physicists and also the theoretical biologists is the idea that when you're dealing with very complex systems you're going to get a large variety of behavior which can be interpreted as hill climbing, but hill climbing with a lot of modifications, hill climbing with big jumps occasionally.