I'm a capitalist but one who is smallist and localist, and who favours businesses where owners are still in charge.

Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that.

Those who were unlucky in life in spite of their skills would eventually rise. The lucky fool might have benefited from some luck in life; over the longer run he would slowly converge to the state of a less-lucky idiot. Each one would revert to his long-term properties.

If you want to annoy a poet, explain his poetry.

The curious mind embraces science; the gifted and sensitive, the arts; the practical, business; the leftover becomes an economist

Forecasting by bureaucrats tends to be used for anxiety relief rather than for adequate policy making.

What we do today has nothing to do with capitalism or socialism. It is a crony type of system that transfers money to the coffers of bureaucrats.