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Rising prices or wages do not cause inflation they only report it. They represent an essential form of economic speech, sincemoney isjust another form of information.
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
Form
Essential
Essentials
Inflation
Speech
Report
Cause
Prices
Information
Wages
Economic
Reports
Causes
Represent
Another
Rising
More quotes by Walter Wriston
Every line in the government's budget has its own constituency.
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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
As long as capital-both human and money-can move toward opportunity, trade will not balance.
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Risk is not a dirty word.
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Failure is not a crime. Failure to learn from failure is.
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The person who figures out how to harness the collective genius of his or her organization is going to blow the competition away.
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All of life is the management of risk, not its elimination.
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
When you retire you go from Who's Who to Who's That?
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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
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.
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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.
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Banking is a branch of the information business.
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.
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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
The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.
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
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
