As a rule we perceive what we expect to perceive... The unexpected is usually not received at all.

Capital formation is shifting from the entrepreneur who invests in the future to the pension trustee who invests in the past.

Few companies that installed computers to reduce the employment of clerks have realized their expectations... They now need more, and more expensive clerks even though they call them 'operators' or 'programmers.'

Growth that adds volume without improving productivity is fat. Growth that diminishes productivity is cancer.

In the knowledge economy everyone is a volunteer, but we have trained our managers to manage conscripts.

We can ill afford to have activities conducted as "non-profit," that is, as activities that devour capital rather than form it, if they can be organized as activities that form capital, as activities that make a profit.

The dilemma of modern society: the conflict between the need for capital formation at a high rate and the popular condemnation of interest and dividends as "unearned income" and "capitalist," if not as sinful and wicked.