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

Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.

Human capital will go where it is wanted, and it will stay where it is well treated. It cannot be driven; it can only be attracted.

The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.

A country does not go bankrupt.

If we had a truth-in Government act comparable to the truth-in-advertising law, every note issued by the Treasury would be obliged to include a sentence stating: This note will be redeemed with the proceeds from an identical note which will be sold to the public when this one comes due.

Banking is a branch of the information business.