A Quote by Gillian Tett
I think socialism is really about recognizing that there are limits to what the market can do. The market is very useful; at times it works very well, but it doesn't always work.
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I find it quite useful to think of a free-market economy - or partly free market economy - as sort of the equivalent of an ecosystem. Just as animals flourish in niches, people who specialize in some narrow niche can do very well.
I like the PC market. It's a big market, but it's a very volatile market as well.
The Middle East would always be an important trading partner in just a market sense, like America is a big market for us, Asia is a big market, Europe is a big market. You are going to have hundreds of millions of consumers there, from just a standard market point of view, from a very narrow American point of view.
If I buy a car, I use the car, you don't, and the market for cars works pretty well. But there are many other sorts of goods, often very important goods, which are not provided well through the market. Often, these go under the heading of public goods.
What is it about a work of art, even when it is bought and sold in the market, that makes us distinguish it from . . . pure commodities? A work of art is a gift, not a commodity. . . works of art exist simultaneously in two “economies”, a market economy and a gift economy. Only one of these is essential, however: a work of art can survive without the market, but where there is no gift, there is no art.
I think, when I see entrepreneurs, they tend to talk about the market and the industry - which is obviously very important, but the most important thing is you're product. What are you selling? And does it really have product-market fit?
The market economy of its own cannot destroy socialism. But to build socialism with success, it is necessary to develop a market economy in an adequate and correct way.
There is very little sense that anybody really knows what works or why. But that's not a shock. And I don't think market research would solve that.
I am not very extreme in my life. But I'm very attracted to art that works with extremes and works with limits, that transgresses limits and transcends limits and crosses borders and has a certain boldness.
We need a tax system that essentially takes very good care of the people who just really aren't as well adapted to the market system but are nevertheless doing useful things in the society.
The mistake managers often make is defining their industry too narrowly. Digital's market share in the minicomputer market stayed very robust even as it fell off the cliff. Disruption seems to come out of nowhere, but if you know what to look for, you can spot important developments well before the market does.
As we looked at the server market, we know very well that the data-center market takes time to ramp with any new product.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
I think the market is always going to be around. The goal is not to say, let's get rid of the market, because the market does render a huge number of services, and I don't want to have a fight about the price of something every time I buy a book or a bottle of water.
Education is always very important. Ultrasound is, I think, quite a niche market. We know our customers very well. We listen to a lot of feedback and they're more than happy to tell us their thoughts.
We mustn't fear to adopt the advanced management methods applied in capitalist countries. The very essence of socialism is the liberation and development of the productive systems. Socialism and market economy are not incompatible. We should be concerned about right-wing deviations, but most of all, we must be concerned about left-wing deviations.
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