Economists are always recommending the elimination of this or that market imperfection ... no astrophysicist recommends the elimination of planets that he does not like.

AT&T invented the cellular telephone, but saw no future in it. It takes entrepreneurs, who are angels of destruction, to take advantage of things which the inventor cannot or does not see.

One of the peculiarities of economics is that it still rests on a behavioral assumption-rational utility maximization-that has long since been rejected by sociologists and psychologists.

Major investment decisions have become too important to be left to the private sector.

The old foundations of success are gone ... The world's wealthiest man, Bill Gates, owns nothing tangible: no land, no gold or oil, no factories ... For the first time in history the world's wealthiest man owns only knowledge.

Without entrepreneurs, economies become poor and weak. The old will not exist, the new can't enter

Natural resources have dropped out of the competitive equation. In fact, a lack of natural resources may even be an advantage. Because the industries we are competing for - the industries of the future - are all based on brainpower.