Quote

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

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Walter Wriston
Age: 85 †
Born: 1919
Born: August 3
Died: 2005
Died: January 19
Banker
Middletown
Connecticut
Walter Bigelow Wriston
Place
Accept
Cannot
Deal
Also
Accepting
Better
Deals
Whole
Information
Made
Control
Prices
Something
Impossible
Elsewhere
World
Business
Customers

More quotes by Walter Wriston

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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
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Every line in the government's budget has its own constituency.
Walter Wriston
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Risk is not a dirty word.
Walter Wriston
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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
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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
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When you retire you go from Who's Who to Who's That?
Walter Wriston
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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
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As long as capital-both human and money-can move toward opportunity, trade will not balance.
Walter Wriston
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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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The information revolution has changed wealth. Intellectual capital is far more important than money.
Walter Wriston
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Information about money has become almost as important as money itself.
Walter Wriston
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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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The guy with the competitive advantage is the one with the best technology.
Walter Wriston
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Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
Walter Wriston
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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
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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
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A country does not go bankrupt.
Walter Wriston
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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
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All of life is the management of risk, not its elimination.
Walter Wriston
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Capital goes where it is welcome and stays where it is well treated.
Walter Wriston