To escape the curse of commoditization, a company has to be a game-changer, and that requires employees who are proactive, inventive and zealous.
An enterprise that is constantly exploring new horizons is likely to have a competitive advantage in attracting and retaining talent.
As human beings, we are the genetic elite, the sentient, contemplating and innovating sum of countless genetic accidents and transcription errors.
Top-down authority structures turn employees into bootlickers, breed pointless struggles for political advantage, and discourage dissent.
Like a child star whose fame fades as the years advance, many once-innovative companies become less so as they mature.
Online hierarchies are inherently dynamic. The moment someone stops adding value to the community, his influence starts to wane.
Culture is more often a source of conflict than of synergy. Cultural differences are a nuisance at best and often a disaster.
Private property is redundant. "Public property" is an oxymoron. All legit property is private. If property isn't private it's stolen.
Between 1980 and 1990, the number of countries that were classified as 'free' or 'mostly free' increased by about 50%.
My main graduate training was received at the University of Chicago from which I received the Ph.D. in 1938.
Democracy, despite its limitations, is in the end the only way to ensure that policies do not simply benefit the privileged few.
Overcoming the myth that there is such a thing as an objectively defined 'free market' is the first step towards understanding capitalism.
The average investor does significantly worse than a simple index... It's literally because of the way our brains are wired.
The industry's not stupid. The industry knows that if those foods are labeled 'genetically engineered', the public will shy away and won't take them.
White House and State Department foreign-policy experts are overwhelmingly directed towards military and diplomatic issues, not development issues.
Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist.
The crisis triggered a fertile period of scientific ferment and revolution in economic theory.
When you get into a hotel room, you lock the door, and you know there is a secrecy, there is a luxury, there is fantasy. There is comfort. There is reassurance.
I went to a liberal arts college, and as part of my background, I was majoring in mathematics and physics.
At the time, my personal research objectives were to provide Keynesian economics with more rigorous foundations and to tighten and elaborate the logic of macroeconomic and monetary theory.
Media companies' hit-focused marketing did not emerge in a vacuum. It reflects how consumers make choices. The truth is that consumers prefer blockbusters.
