Unfortunately, the more complex the system, the greater the room for error.

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.

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

I don't panic. The same thing applies to me as to everybody else, so I'm given to euphoria and despair. And I would say that I basically have survived by recognizing my mistakes.

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

If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.

A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.