One of the most difficult things is to get truthful people. Nobody can manage well if they don't have a lot of mirrors around them that are honest, that tell them what they're doing is wrong or wrongheaded or misconceived. And in every large bureaucracy on earth, most people are afraid to tell the boss the truth.

We already have an annual wealth tax on homes, the major asset of the middle class. It's called the property tax. Why not a small annual tax on the value of stocks and bonds, the major assets of the wealthy?

Organizations aren't loyal; they can't be. They have to be nimble, they have to change. That means everybody in every organization will have one eye on his or her own brand, and the other eye on the organization of which he or she is a part. And the first loyalty - self-loyalty - is becoming more and more dominant, simply as a survival strategy. I'm in no way blaming anyone here; this is just simply a fact of life.

To be a skilled politician, you have to be genuine. To really make it work, you have to love people. You have to love the contact, you have to love the energy, you've gotta love inspiring people and getting their adulation in return. You can't separate what's genuine from what is necessary.

Standing up to bullies is the hallmark of a civilized society.

The path to success used to be up and through an organization. Now the path to success is increasingly through self-promotion.

As to the meaning of "corporate social responsibility," Friedman and I would agree: If a certain action improves the corporation's bottom line, there's no point in labeling it "socially responsible." It's just good business.