“Although much has been written about the decline of American competitiveness, in many ways this new global market plays to our strengths. The constant in the global marketplace is change, and change is what we Americans deal with best. We have always been innovators. Who else would choose as a national motto on our great seal "novus ordo seclorum" - the new order of the ages. This native adaptability is in itself a type of "infrastructural" advantage, an infrastructure of culture that will serve us well as long as we refuse to panic in the face of statisticians and pundits wielding yesterday's numbers and telling us we're washed up if we remain ourselves.” InnovationIndividualityAmerican Exceptionalism Author:Walter B. Wriston
“The old revolutionary chant "Power to the People," usually accompanied by a raised clenched fist, has gone out of fashion. The failure of the socialist model has become too evident. The phrase probably came from the battle cry of the Bolsheviks during the Russian Revolution when the slogan was "Power to the Soviets." In America in the 1960s the Soviet slogan was corrupted into what some called "participatory democracy," and people like "Tom Hayden of Students for a Democratic Society were calling for a transfer of power to the 'people,' whom they were able to identify as themselves." Later on, the "Power to the People" slogan was adopted by Bobby Seale as the chant of the Black Panthers. Needless to say, the last thing many of these people had in mind was actually giving all of the people a real voice in their government. But that is what is happening now.” TechnologyFailureSocialismIndividualism Author:Walter B. Wriston
“If capital is what produces a stream of income - and that is a definition no one seems to quarrel with - then it follows that software is a form of capital. It has always been difficult to measure any form of knowledge capital, but in the past the problem was not as urgent, since the ratio of difficult-to-quantify knowledge capital to more tangible capital was not as high or growing as rapidly as it is today.” KnowledgeInformationCapital Author:Walter B. Wriston
“Markets are voting machines; they function by taking referenda. In the new world money market, for example, currency values are now decided by a constant referendum of thousands of currency traders in hundreds of trading rooms around the globe, all connected to each other by a vast electronic network giving each trader instant access to information about any factor that might affect values. That constant referendum makes it much harder for central banks and governments to manipulate currency values.” RegulationMarkets Author:Walter B. Wriston