If you are not happy with yourself, even the loftiest achievements won't bring you much satisfaction.

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.

A money-financed tax cut is essentially equivalent to Milton Friedman's famous 'helicopter drop' of money.

It's the price of success: people start to think you're omnipotent.

In fact, the world needs more nerds.

I think one of the lessons of the Depression - and this is something that Franklin Roosevelt demonstrated - was that when orthodoxy fails, then you need to try new things. And he was very willing to try unorthodox approaches when the orthodox approach had shown that it was not adequate.