American young people have got to understand from an early age that the world pays off on results, not on effort. Not everyone should win a prize no matter where he or she finishes.

If you followed this economic crisis and you do not think that the world is getting flatter, you are not paying attention. We saw the entire global economy at one time acting totally in sync. The real truth is the world is even flatter than I thought. Our mortgage crisis is killing Deutsche Bank. You still don't think the world is flat?

I attended public school with the same group of kids from K through 12.

I don't think that stability and the status quo go together at all, not in a flat world where people are integrated, where women are assuming new roles, where young people want to be consulted and participate. I think the trick is to open up, move down the path of reform, do it in a way that is consistent with your own society's stability and culture, and just don't think you can do nothing.

There are elites that are real leaders and role models. There are elites that are really selfish and want to pull up the ladder once they've reached the roof.

Hope and optimism aren't just attitudes, they are life strategies.

We are led by lawyers who do not understand either technology or balance sheets.