In the '90s it was irrational exuberance. Now it may be irrational doom and gloom.

In the '90s it was irrational exuberance. Now it may be irrational doom and gloom.

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

In a world where routine production is footloose...competitive advantage lies not in one-time breakthroughs but in continual improvements. Stable technologies get away.

I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.

It's very hard to establish an economy of trustworthiness. The key is continuing to innovate and to keep your customers through innovation, because the customers can leave. But once you are a dominant player that continues to innovate and provide a good deal, customers will stay with you.

If consumers don't have the wherewithal to spend because all the money's going to the top, and the people at the top only spend a very small fraction of what they earn, then the economy is almost inevitably destined to slow.