If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles.

I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to it.

When I look out the window at my backyard, I can't think of anything interesting to ask. I mean, it's green, it's growing-but nothing occurs to me that any concentrated effort of thought could possibly enlighten. Whereas in economic, statistical, or mathematical kinds of things, I can think lots of questions.

The only antidote to dangerous ideas is strong alternatives vigorously advocated.

The United States basically accepted protection abroad as the price of post-war recovery. Now, that these countries have caught up to our level of prosperity, it is time for them to catch up to our level of openness.

The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution as one of the most important developments in economic history.

In politics, as in poetry, it is sometimes true that it is darkest before dawn.