Rules cannot take the place of character.

History has not dealt kindly with the aftermath of protracted periods of low risk premiums.

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?

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.

Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.

These days, even out of office, I still read economic reports.

Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking