Jun 23, 2008

Kevin Duffy: The long-term case for optimism and power of ideas

There's a lot going on right now that's really positive. Just as our grandparents lived through the transportation revolution, we're currently living through the computing revolution. When you expand the division of labor, good things happen, and the long-term trend is toward greater division of labor throughout the global economy.

Positive change comes from good ideas percolating up, and the bad ideas failing. Right now, central bankers are treated like rock stars, but we'd be much better off if they were discredited and the economy broke its addiction to cheap credit. Never underestimate human resiliency.

~ Kevin Duffy, Bearing Asset Management, "Setting a Course With Bearing Asset Management," The Motley Fool, April 11, 2007, by Matt Koppenheffer

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