Any central bank should only be in charge of liquidity. Solvency is a matter for the treasury.

The world is looking to us for leadership. We have provided it in the past; the main reason why anti-American feelings are so strong in the world today is that we are not providing it in the present.

The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.

I fancied myself as some kind of god or an economic reformer like Keynes

I would be lying, however, if I claimed that I could always formulate worthwhile hypotheses on the basis of my theoretical framework. Sometimes there were no reflexive processes to be found; sometimes I failed to find them; and, what was the most painful of all, sometimes I got them wrong. One way or another, I often invested without a worthwhile hypothesis and my activities were not very different from a random walk.

The pro-Israel lobby has been remarkably successful in suppressing criticism. Politicians challenge it at their peril because of the lobby's ability to influence political contributions.

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.