The generally accepted theory is that financial markets tend towards equilibrium, and...discount the future correctly. I operate using a different theory, according to which financial markets cannot possibly discount the future correctly because the do not merely discount the future; they help to shape it.

It is credit that matters, not money (in other words, monetarism is a false ideology).

I am against market fundamentalism. I think this propaganda that government involvement is always bad has been very successful - but also very harmful to our society.

Sometimes time actually works against you if you refuse to face the relevant issues and explain to the public what is at stake.

Misconceptions play a prominent role in my view of the world.

As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

I am for maximum supervision and minimum regulation.