All taxes are a drag on economic growth. It's only a question of degree.

While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.

If we are to remain preeminent in transforming knowledge into economic value, America's system of higher education must remain the world's leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.

Before I met Ayn Rand, I was a logical positivist, and accordingly, I didn't believe in absolutes, moral or otherwise. If I couldn't prove a proposition with facts and figures, it was without merit.

The arts develop skills and habits of mind that are important for workers in the new economy of ideas.

How do we know when irrational exuberance has unduly escalated asset values?

Credit-default swaps, I think, have serious problems associated with them.