Lester Thurow Quotes

A competitive world offers two possibilities. You can lose. Or, if you want to win, you can change.

One of the peculiarities of economics is that it still rests on a behavioral assumption-rational utility maximization-that has long since been rejected by sociologists and psychologists.

Technology and Ideology are shaking the foundations of 21st century capitalism. Technology is making skills and knowledge the only sources of sustainable strategic advantage.

Without entrepreneurs, economies become poor and weak. The old will not exist, the new can't enter

Major investment decisions have become too important to be left to the private sector.

If a group of people has no sense where they came from-it is difficult for them to have a sense where they should go.

AT&T invented the cellular telephone, but saw no future in it. It takes entrepreneurs, who are angels of destruction, to take advantage of things which the inventor cannot or does not see.

We've believed for 50 years that the Japanese are small Americans who wanted to be like us. They are not.

Economists are always recommending the elimination of this or that market imperfection ... no astrophysicist recommends the elimination of planets that he does not like.