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

A competitive world offers two possibilities. You can lose. Or, if you want to win, you can change.

Change requires individuals who recognize that new things can be done and who take the initiative to get them done ... The existing bureaucracies, public and private, will not take on the job of changing what is.

If a group of people has no sense where they came from-it is difficult for them to have a sense where they should go.

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.

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.

We've believed for 50 years that the Japanese are small Americans who wanted to be like us. They are not.