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If we are going to have a Fed, it should not fall into the tyranny of experts with the a fatal conceit that a few wise people can determine interest rates. Interest rates should be driven by the market, and people's time preference, and we see these boom-bust cycles.

Charles Koch

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Charles Koch
Age: 89
Born: 1935
Born: November 1
Businessman
Businessperson
Wichita
Kansas
Charles G. Koch
Charles de Ganahl Koch
Fall
Experts
Bust
Going
Tyranny
Boom
Time
Determine
Conceit
People
Driven
Rates
Rate
Fatal
Market
Preference
Wise
Feds
Interest
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More quotes by Charles Koch

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Both my parents were a tremendous influence on me. My father's influence came from - he decided well, probably before we were born that as he put it, 'I'm not going to have any kids who are country club bums.'
Charles Koch
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The reason we tend to support Republicans is they're taking us toward the cliff at only 70 miles per hour miles an hour and the Democrats are taking us 100 miles an hour.
Charles Koch
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The old idea that some genius pulls all of this stuff out of the air is ridiculous. As Ridley pointed out, the only way Edison could invent the lightbulb is because all the elements had been developed before. That's obvious it wasn't just his genius - 20 others developed it at the same time. And that's true for almost every invention and discovery.
Charles Koch
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The easy way to make money is to get special political privilege. From the beginning of time, business has cozied up to government and gotten restrictions on competition and subsidies and stuff.
Charles Koch
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Corporate welfare, I think, is a disaster for this country. It's crippling our economy. It is contributing to a permanent underclass and corrupting the business community.
Charles Koch
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We find that when we make an acquisition, or we have a hiring experience, that's one of the hardest things to change. If you've been working for a company where you didn't dare challenge your boss, or what's politically correct in the company, then it affects your career.
Charles Koch
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That's the first rule for anybody who controls - do no harm.
Charles Koch
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First word [of my father] when I arrived [as a CEO] is, 'Son, i hope your first deal is a loser, otherwise, you'll think you're a lot smarter than you are.' But he had tremendous values, tremendous integrity, humility, work ethic and terrific thirst for knowledge.
Charles Koch
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I think our biggest problem in society is we're headed more and more toward a two-tiered society. That is, creating welfare for the wealthy and destroying opportunities for the disadvantaged.
Charles Koch
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Innovation comes from recombining existing technology and different perspectives in innovative ways.
Charles Koch
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I think this is so important - what's not done well at education at every level - is helping kids find, as I discovered for myself, what I was good at. I was very lucky to find out that at an early age, which set my direction in life.
Charles Koch
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Success is one of the worst enemies of success, because success tends to breed complacency and lack of humility.
Charles Koch
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Our vision controls the way we think and, therefore, the way we act the vision we have of our jobs determines what we do and the opportunities we see or don't see.
Charles Koch
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Just keep trying things, without really understanding the underlying fibers of well-being, or peace or civility, then you're just going to stumble from one disaster to another.
Charles Koch
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To be happy you have to fulfill your nature. That's what Aristotle taught so many centuries ago, that the road to happiness isn't to go drink more or consume more. The road to happiness is to fully develop your abilities, and then apply them to do good.
Charles Koch
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Do you want to have your feelings hurt a little bit because you have some negative feedback, or do you want to continue down the disastrous track you're on and have a huge disaster? Talk about a bruised ego. It may ruin your career.
Charles Koch
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I've always believed in the saying that there is no limit to what you can accomplish if you don't care who gets the credit.
Charles Koch
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For business to survive over a long period, it needs to be contributing to society and people's well-being. Otherwise, who's going to want it? Otherwise you end up like Enron or some of these other companies.
Charles Koch
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The role of business is to provide products and services that make peoples lives better - while using fewer resources - and to act lawfully and with integrity.
Charles Koch
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There are now businesses and entire industries that exist solely as a result of federal patronage. Profiting from government instead of earning profits in the economy, such businesses can continue to succeed even if they are squandering resources and making products that people wouldn't ordinarily buy.
Charles Koch