What lesson can we draw from New York's post-Andrew temporary market dislocations? If public policy stays the course, and assists in the efforts to match buyers and sellers, the private sector will act to stabilize the market. It always does.

We have become more involved in the political process because we want our views heard on public policy issues that are important to the company and the entire high tech industry. Individuals at Microsoft support candidates, but the company does not endorse anyone.

The session was full of acrimony and very little public policy. They couldn't get consensus to get anything significant done. Lawmakers and the governor were consumed by the special election.

Universality has been severely reduced: it is virtually dead as a concept in most areas of public policy.

Peter likes public policy. He discussed it with the board, and they were fine with it.

He was unique in that he was good in politics and good at public policy. He was good at both.