Jim Rogers : the old ways usually have to change or get passed by

Tom:  It sounds like you’re saying that our political system has a systemic problem, it has too much inertia and can’t change… even if smart people agree that there’s a better way, the switching costs are too high and we can’t get from where we are to where we want to be. You’ve said something analogous with technology, about how emerging countries are leapfrogging the United States.
Jim Rogers :  Certainly in some ways, yes, I mean if you go to some countries now, people don’t have telephones with land lines, they just completely leapt over that whole thing. We all used to have telephones with copper wires coming in. Most new countries don’t have land lines, they don’t have all those copper wires, et cetera. They don’t need it, they just completely leapt over all that. That’s been the story throughout history, the way people have developed, something new comes along, people develop it rather than go with the old ways, and people still stuck with the old technology and the old ways usually have to change or get passed by. - in an interview yesterday with investorguide



Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.