The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.

Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.

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

Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

If I say something which you understand fully in this regard, I probably made a mistake.

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.

But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?