I call government that works the best for people open society, which is basically just another more general term for a democracy that is - you call it maybe a liberal democracy. It's not only majority rule but also respect for minorities and minority opinions and the rule of law. So it's really a sort of institutional democracy.

When money is free, the rational lender will keep on lending until there is no one else to lend to.

Markets can influence the events that they anticipate.

The scope for improvement is infinite, precisely because perfection is unattainable.

I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.

It is better to have a cat and mouse game where the cat has the upper hand than a cat and mouse game where the mice are ruling. Because the latter means that the market participants are given free range. That was actually the big misconception of our national hero Ronald Reagan, who always talked about the magic of the market.

A global economy is characterized not only by the free movement of goods and services but, more important, by the free movement of ideas and of capital.