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

Most of what you hear about entrepreneurshi p is all wrong. It's not magic; it's not mysterious; and it has nothing to do with genes. It's a discipline and, like any discipline, it can be learned.

Above all, innovation is not invention. It is a term of economics rather than of technology.

The organization is, above all, social. It is people.

Managers are agents of transformation, converting the workforce in developed countries from one of manual workers to one of highly educated knowledge workers.

Planning is actually incompatible with an entrepreneurial society and economy. Planning is the kiss of death of entrepreneurship.

The corporation is the "master", the employee is the "servant". Because the corporation owns the means of production without which the employee could not make a living, the employee needs the corporation more than vice versa.