Being captive to quarterly earnings isn't consistent with long-term value creation. This pressure and the short term focus of equity markets make it difficult for a public company to invest for long-term success, and tend to force company leaders to sacrifice long-term results to protect current earnings.

If people are teaching economics, they need to teach all the different disciplines, all the different schools in economics. They can't just teach one because then the person isn't equipped to deal with the economics profession.

I agree with George Washington's concern about parties: They become an end in themselves, rather than being committed to helping people improve their lives.

The problem is, to have prices fall would work fine if we didn't have all these built in rigidities on downward prices, because then things don't adjust, and that's how we have recessions and depressions, is prices and costs don't adjust together and they get out of whack, and we end up with dislocations.

My father would always say "learn everything you can and whenever you can, because you never know when it'll come in handy."

To do meaningful work is to contribute - to create value in society.

I don't like the idea of capitalism anyway. Because it's not capital we are talking about; it's knowledge and creating well-being. Because I mean, that gets people on the wrong track when it's capital and how we allocate capital - no. How do we create the Republic of Science in America? How do we have a system of mutual benefits where people succeed by helping others improve their lives? So I don't like that at all.