The assumption of perfect knowledge is very far from reality ... a lot of the evil in the world is actually not intentional.

Advocating democracy has, by other people, often been taken as a form of imperialism, and not without some justification. So the important thing in a democracy is that it doesn't necessarily have to agree with what America's interests are, and it doesn't necessarily have to be serving American interests.

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

When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.

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.

Stock market bubbles don't grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.

There is no doubt that the countries that now have a very large debt have not introduced the kind of structural reforms that Germany did and are therefore at a disadvantage. But the problem is that this disadvantage is becoming even more pronounced through the punitive policies in place.