Countries don't go out of business....The infrastructure doesn't go away, the productivity of the people doesn't go away, the natural resources don’t go away. And so their assets always exceed their liabilities, which is the technical reason for bankruptcy. And that's very different from a company.

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.

The person who figures out how to harness the collective genius of his or her organization is going to blow the competition away.

Every line in the government's budget has its own constituency.

Failure is not a crime. Failure to learn from failure is.

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.

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.