Being an economist is the least ethical profession, closer to charlatanism than any science.

The grandchildren should not bear the debts of the grandparents.

It does not matter how frequently something succeeds if failure is too costly to bear.

There are systems that use failure as fuel for improvement, where the cost of failure is small.

Redundancy is ambiguous because it seems like a waste if nothing unusual happens. Except that something unusual happens-usually .

You have family-owned businesses that have been around for 500 years. You cannot name a corporation that survives intact for even a few decades.

You don't become completely free by just avoiding being a slave; you also need to avoid becoming a master.