Under perfect competition, in the long run no company makes an economic profit.

When you are starting a new business you don't want to go after giant markets. You want to go after small markets and take over those markets quickly.

I think somehow people should be encouraged to think about a very long time horizon and I think this is true for businesses, it's true for governments and it's true for people doing things in the non-profit sector.

I think that markets classically fail in cases where there are public goods that provide benefits that people cannot capture. The big debate is how big these public goods are, where they exist, things of that sort.

The debt austerity would not be problems if we had technological progress. If you doubled the debt in the U.S., and the size of the economy doubled because of technological progress and growth, the two would roughly cancel out and it would all be a totally manageable situation.

A lot of the key to Apple's succes is Designing technology in order to hide it.

Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.