All of life is the management of risk, not its elimination. Walter Wriston More Quotes by Walter Wriston More Quotes From Walter Wriston I walk into all these organizations, and I'm always puzzled when I realize that people still want to be there. Most people really want to love their organizations. We need that level of commitment ... Yet organizations have done very little to deserve that kind of staying-power. Walter Wriston loyaltyorganizationcommitment There'll be a growing disparity between economics and politics. An economy that grows so rapidly is intractably global. On the other hand, the current political system is intractably national. So there is a growing dichotomy between a global economy and locally based politics. Walter Wriston growingpoliticalhands A truly global economy, as opposed to the multinational economy of the recent past, will require concessions of national power ... that seemed impossible a few years ago and which even now we can but partly imagine. Walter Wriston impossiblepastyears The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast. Walter Wriston coping-mechanismseventsuse If we had a truth-in Government act comparable to the truth-in-advertising law, every note issued by the Treasury would be obliged to include a sentence stating: This note will be redeemed with the proceeds from an identical note which will be sold to the public when this one comes due. Walter Wriston governmentwould-belaw A country does not go bankrupt. Walter Wriston investingdoecountry All the Congress, all the accountants and tax lawyers, all the judges, and a convention of wizards all cannot tell for sure what the income tax law says. Walter Wriston libertyjudginglaw The information revolution has changed people's perception of wealth. We originally said that land was wealth. Then we thought it was industrial production. Now we realize it's intellectual capital. The market is showing us that intellectual capital is far more important that money. This is a major change in the way the world works. the same thing that happened to the farmers during the Industrial Revolution is now happening to people in industry as we move into the information age. Walter Wriston landpeoplemoving Information is a business in itself. It is also something that has made control impossible ... you cannot get customers to accept prices in one place when they know there's a better deal elsewhere. It's a whole new world. Walter Wriston informationimpossibleworld Risk is not a dirty word. Walter Wriston dirty-wordsriskdirty It is a maxim of cryptology that what one man can devise, another can unravel. This principle keeps armies of tax lawyers and accountants employed, but adds nothing to our national productivity. Walter Wriston armyprinciplesmen Judgment comes from experience - and experience comes from bad judgment. Walter Wriston badjudgmentexperience
