A Quote by Arthur Levitt
Our markets have not achieved their great successes as a result of government fiat, but rather through efforts of competing interests working to meet the demands of investors and to fulfill the promises posed by advancing technology.
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The essence and the glory of the free market is that individual firms and businesses, competing on the market, provide an ever-changing orchestration of efficient and progressive goods and services: continually improving products and markets, advancing technology, cutting costs, and meeting changing consumer demands as swiftly and as efficiently as possible.
Through all aspects of society be it art, design, the financial markets, government, technology or communications we are witnessing unprecedented global transformation - the result of which is impossible to predict.
Our efforts must be bent in the direction of convincing the great mass of working people of this country of the necessity of our winning and retaining our place in business and commerce. That place can be won only through the workers' own efforts and through their own efficiency.
The United States should.... avoid unilateral export controls and controls on technology widely available in world markets. Unilateral controls penalize U.S. exporters without advancing U.S. national security or foreign policy interests.
I discovered that Christianity does have the resources to meet the challenges posed by competing worldviews after all.
You know, I believe that technology is the great leveler. Technology permits anybody to play. And in some ways, I think technology - it's not only a great tool for democratization, but it's a great tool for eliminating prejudice and advancing meritocracies.
Our purpose, as we face these challenges, remains clear - fair and orderly markets that allow for efficient capital formation, while protecting the interests of investors.
Our alliances and our credibility are crucial elements of our working capital in advancing America's interests in the world, and they have been eroded over the last four years.
Markets are a social construction, they're made from institutions. We in a democratic society create markets, we constitute markets, we bring them into existence, and we shouldn't turn markets over to a narrow group of people who regulate them and run them in their interests, rather they should be run democratically for the common good.
Our government, National and State, must be freed from the sinister influence or control of special interests. Exactly as the special interests of cotton and slavery threatened our political integrity before the Civil War, so now the great special business interests too often control and corrupt the men and methods of government for their own profit. We must drive the special interests out of politics.
We are increasing our efforts to attract the right kind of foreign investors through our various agencies.
I respect very much the role of the media in our society; I think they can be very, very helpful. They serve as a very useful check, sort of a watchdog over the actions of the government, and I respect that. But there is a competing interest, and that is the ability of prosecutors to get information that may be absolutely essential to assist them in the investigation of illegal wrongdoing. And so you've got these two competing interests. I believe that the current policy at the Department of Justice reflects a careful balancing of those interests.
The government can always rescue the markets or interfere with contract law whenever it deems convenient with little or no apparent cost. (Investors believe this now and, worse still, the government believes it as well. We are probably doomed to a lasting legacy of government tampering with financial markets and the economy, which is likely to create the mother of all moral hazards. The government is blissfully unaware of the wisdom of Friedrich Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.")
Too often, investors are the target of fraudulent schemes disguised as investment opportunities. As you know, if the balance is tipped to the point where investors are not confident that there are appropriate protections, investors will lose confidence in our markets, and capital formation will ultimately be made more difficult and expensive.
Throughout the history of the Internet, most of the innovation has come as a by-product of efforts to facilitate communication within social groups of various kinds (academics, bloggers, peer-to-peer file sharing), rather than as the result of profit-oriented investment. Rather than taking the lead, the business and government sectors have adopted innovations developed in Internet communities, and realised significant productivity gains as a result.
High SQ demands the most intense personal integrity. It demands that we stand open to experience, that we recapture our ability to see life and others afresh, as though through the eyes of a child, to learn how to tap into our intuition and visualization, as a powerful means of using our inner knowing to “make a difference.” It demands that we cease to seek refuge in what we know and constantly explore and learn from what we do not know. It demands that we live the questions rather than the answers.
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