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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
Truly
Concessions
Economy
Partly
Impossible
Recent
Imagine
Require
Past
Opposed
Power
Global
Even
Seemed
Multinational
Years
National
Multinationals
More quotes by 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
The guy with the competitive advantage is the one with the best technology.
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
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
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
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
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
One man saying that everything is wrong can command coast-to-coast attention in living color, a power not given to an absolute monarch a century ago.
Walter Wriston
The information revolution has changed wealth. Intellectual capital is far more important than money.
Walter Wriston
Risk is not a dirty word.
Walter Wriston
Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
Walter Wriston
Banking is a branch of the information business.
Walter Wriston
Capital goes where it is welcome and stays where it is well treated.
Walter Wriston
A country does not go bankrupt.
Walter Wriston
Information about money has become almost as important as money itself.
Walter Wriston
When you retire you go from Who's Who to Who's That?
Walter Wriston
Failure is not a crime. Failure to learn from failure is.
Walter Wriston
We're not in cultures which support learning we're in cultures that give us the message consistently: Don't mess up, don't make mistakes, don't make the boss look bad, don't give us any surprises. So we're asking for a kind of predictability, control, respect, and compliance that has nothing to do with learning.
Walter Wriston
The greatest testimony to the human spirit that I'm witnessing now is the fact that people still come back to work, after all that has been done to them. They are still willing to participate for a more positive future if they would be sincerely invited.
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
