Quote

As businesses grow, all sorts of things that once were done on the fly - including creating new products - have a way of becoming bureaucratized.

Growth makes so many dimensions of management easier. It's when growth stops that things get tough.

There is very strong historical data that suggests the way societies grow is by making large, long-term investments.

Bureaucracies are inherently antidemocratic. Bureaucrats derive their power from their position in the structure, not from their relations with the people they are supposed to serve. The people are not masters of the bureaucracy, but its clients.

Bureaucrats sometimes do not have the correct information, while citizens and users of resources do.

The reality is institutions that invest in high growth have offices globally and talk across offices.

When most people ask about a business growing, what they really mean is growing revenue, not just growing the number of people using a service. Traditional businesses would view people using your service that you don't make money from as a cost.

Good debt growth is when you borrow money, and it goes into the real economy. You do capital spending. You build businesses.

Today we know that centralization and big bureaucracies have not, as promised, been the answer for promoting better opportunities for society.

Sound public finances are not the enemy of sustained growth - they are its precondition.