We never like to admit to ourselves that we have made a mistake. Organizational structures tend to accentuate this source of failure of information.

Economists and technologists bring the "bits", but it requires the social scientists and humanists to bring the "wits.

Accounting for the most part, remains a legalistic and traditional practice, almost immune to self-criticism by scientific methods.

Where there is hypocrisy, there is hope.

The discounting presumably is to be done for each period of time at that rate of interest which represents the alternative cost of employing capital in the occupation in question; that is, at the rate which the entrepreneur could obtain in other investments

Physicists only talk to physicists, economists to economists-worse still, nuclear physicists only talk to nuclear physicists and econometricians to econometricians. One wonders sometimes if science will not grind to a stop in an assemblage of walled-in hermits, each mumbling to himself words in a private language that only he can understand.

Nothing fails like success, because we do not learn anything from it. We only learn from failure, but we do not always learn the right things from failure. If there is a failure of expectations, that is, if the messages that we receive are not the same as those we expected, we can make three possible inferences.