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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
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Walter Wriston
Age: 85 †
Born: 1919
Born: August 3
Died: 2005
Died: January 19
Banker
Middletown
Connecticut
Walter Bigelow Wriston
Impossible
Recent
Imagine
Require
Past
Opposed
Power
Global
Even
Seemed
Multinational
Years
National
Multinationals
Truly
Concessions
Economy
Partly
More quotes by Walter Wriston
Capital goes where it is welcome and stays where it is well treated.
Walter Wriston
Countries don't go out of business....The infrastructure doesn't go away, the productivity of the people doesn't go away, the natural resources don’t go away. And so their assets always exceed their liabilities, which is the technical reason for bankruptcy. And that's very different from a company.
Walter Wriston
All of life is the management of risk, not its elimination.
Walter Wriston
Many organizations are now trying to walk under the banner of The Learning Organization, realizing that knowledge is our most important product ... But the only place that I've seen it is in the Army. As one colonel said, We realized a while ago that it's better to learn than be dead.
Walter Wriston
Capital will always go where it’s welcome and stay where it’s well treated. Capital is not just money. It’s also talent and ideas. They, too, will go where they’re welcome and stay where they are well treated.
Walter Wriston
The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.
Walter Wriston
A country does not go bankrupt.
Walter Wriston
Information about money is more important than money itself.
Walter Wriston
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
The information revolution has changed wealth. Intellectual capital is far more important than money.
Walter Wriston
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
As long as capital-both human and money-can move toward opportunity, trade will not balance.
Walter Wriston
Human capital will go where it is wanted, and it will stay where it is well treated. It cannot be driven it can only be attracted.
Walter Wriston
Failure is not a crime. Failure to learn from failure is.
Walter Wriston
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
The guy with the competitive advantage is the one with the best technology.
Walter Wriston
Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
Walter Wriston
When you retire you go from Who's Who to Who's That?
Walter Wriston
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
The person who figures out how to harness the collective genius of his or her organization is going to blow the competition away.
Walter Wriston
