A truly global economy, as opposed to the multinational economy of the recent past, will require concessions of national power ... that seemed impossible a few years ago and which even now we can but partly imagine.

All of life is the management of risk, not its elimination.

Rising prices or wages do not cause inflation; they only report it. They represent an essential form of economic speech, sincemoney isjust another form of information.

A country does not go bankrupt.

As long as capital-both human and money-can move toward opportunity, trade will not balance.

All the Congress, all the accountants and tax lawyers, all the judges, and a convention of wizards all cannot tell for sure what the income tax law says.

Banking is a branch of the information business.