By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.

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

Revolutions are something you see only in retrospect.

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

Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.

To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal and numerical, and communication skills.

...our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.