Capitalism needs to function like a game of tug-of-war. Two opposing sides need to continually struggle for dominance, but at read more

Capitalism needs to function like a game of tug-of-war. Two opposing sides need to continually struggle for dominance, but at no time can either side be permitted to walk away with the rope.

When your work speaks for itself, don't interrupt.

When your work speaks for itself, don't interrupt.

To think that the new economy is over is like somebody in London in 1830 saying the entire industrial revolution read more

To think that the new economy is over is like somebody in London in 1830 saying the entire industrial revolution is over because some textile manufacturers in Manchester went broke.

You don't want to get the same kind of advice from everyone on your board.

You don't want to get the same kind of advice from everyone on your board.

Economics is first and foremost about the thoughts leading up to choice.

Economics is first and foremost about the thoughts leading up to choice.

Money doesn't talk, it swears.

Money doesn't talk, it swears.

Managing directors are not paid to be busy, they are paid to think.

Managing directors are not paid to be busy, they are paid to think.

If all the economists were laid end to end, they'd never reach a conclusion.

If all the economists were laid end to end, they'd never reach a conclusion.

The boss must first distinguish between action information and status information. He must discipline himself not to act on problems read more

The boss must first distinguish between action information and status information. He must discipline himself not to act on problems his managers can solve, and never to act on problems when he is explicitly reviewing status. I once knew a boss who invariably picked up the phone to give orders before the end of the first paragraph in a status report. That response is guaranteed to squelch full disclosure.