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The War on Prices: How Popular Misconceptions about Inflation, Prices, and Value Create Bad Policy
by
in a free economy, companies are disciplined in what they can charge by their competitors and by consumers’ willingness and ability to pay. In monetary terms, that means that businesses, in any industry, could only raise prices so
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“It’s not the rats who first abandon a sinking ship. It’s the crew members who know how to swim.”
― Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley
― Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley
“Engineers can prove that a bumblebee, with its heavy body and little bitty wings, can't fly. But nobody tells the bumblebees ... and they fly just fine.”
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“Ask the questions you need to ask, admit without apology what you don’t understand, and do the work to learn what you need to learn as quickly as you can.”
― The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company
― The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company
“The individual who acts with bias engages with an expectation instead of reality. That expectation is assembled from the artifacts of culture: headlines and history books, myths and statistics, encounters real and imagined, and selective interpretations of reality that confirm prior beliefs. Biased individuals do not see a person. They see a person-shaped daydream.”
― The End of Bias: What the New Science of Overcoming Bias Teaches Us About Transforming Our Lives, Our Companies, Our World
― The End of Bias: What the New Science of Overcoming Bias Teaches Us About Transforming Our Lives, Our Companies, Our World
“If something seems completely doomed, just give it a little more time. Worst case scenario, you get to be right. Just find out for sure.”
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Walter’s 2025 Year in Books
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