It's a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

There is no evidence that the business cycle has been repealed.

History cannot be reduced to a set of statistics and probabilities.

I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.

I'm a better economist than I was a sax player.

Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.