If We Internationalize Everything, We End Up

Innovation Must Lead Infrastructure For A Simple But Compelling Reason: Innovation Produces New Types Of Products And Markets, And It Is Virtually Impossible To Know How To Run Those Markets Efficiently Before They Are Created.

Every Side Of A Coin Has Another Side.

I'm A Theorist, Not An Institutionalist.

I Was Involved With Wells Fargo Bank As A Consultant In The Late 1960s And Early 1970s, When I Suggested To Them That They Develop A Product That Has Become Known As Index Funds.

Sometimes The Early Bird Gets The Worm, But Sometimes The Early Bird Gets Frozen To Death.