Most companies don't have the luxury of focusing exclusively on innovation. They have to innovate while stamping out zillions of widgets or processing billions of transactions.
Large organizations don't worship shareholders or customers, they worship the past. If it were otherwise, it wouldn't take a crisis to set a company on a new path.
If corporate leaders and their acolytes are not slaves to some meritorious social purpose, they run the risk of being enslaved by their own ignoble appetites.
Building human-centered organizations doesn't imply a return to the paternalistic, corporate welfare practices of the 19th century. Most of us don't want to be nannied.
Liberty should be understood as freedom from the government, specifically, freedom from the initiation of physical force by the government.
In the 1950s, I proposed the survivor method of determining the efficient sizes of enterprises, and worked on delivered price systems, vertical integration, and similar topics.
I met my wife, Margaret L. Mack, at the University of Chicago. We were married in 1936. She died in 1970.
When I was growing up in South Korea in the '70s and early '80s, the country was too poor to buy original records. Everything was bootlegged.
I used to joke that I came to England - not to the U.S. where most Koreans go - because I like Arthur Conan Doyle and Agatha Christie.
Indeed, willingness to challenge professional economists and other experts is a foundation stone of democracy. If all we have to do is to listen to the experts, what is the point of having democracy?
Very often, the judgments by ordinary citizens may be better than those by professional economists, being more rooted in reality and less narrowly focused.
Without there being some national strategy, it is difficult for educators to know what kinds of engineers or technicians to produce and for potential students to know what professions to study for.
By adopting the other trade, we place ourselves by the side of those whose measures tend not only to the improvement of their own subjects, but to the emancipation of the slave everywhere.
In 1833, protection was abandoned, and a tariff was established by which it was provided that we should, in a few years, have a system of merely revenue duties.
From that date the abandonment of the older State proceeded with a rapidity never before known, and with it grew the domestic slave trade and the pro-slavery feeling.
I'm no genius, and others can outwork me. What I do is ask the naive, honest questions, and then I'm not satisfied until I get the answers.
We say we need to clean up the environment; to clean up the environment, we need to be richer. But maybe getting richer is actually making us poorer.
To spend this particular year reading essays to Dennis Robertson as one's supervisor, and, simultaneously, enjoying membership of the group round Keynes was indeed an intellectual treat.
My interest in economics has always been in the whole corpus of economic theory, the interrelationships between the various fields of theory and their relevance for the formulation of economic policy.
The countries of Europe are too small to guarantee their peoples the necessary prosperity and social development. The European states must constitute themselves into a federation.
When you have risk aversion in Japan, the normal day-to-day outflows that happen in a normal market environment slow down.
