The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).

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.

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.

If the terrorists have the sympathy of people, it's much harder to find them. So we need people on our side, and that leads us to be responsible leaders of the world, show some concern with the problems.

You could adjust the punishment to fit the infraction. Even a small fine would be enough to bring an errant government to heel.

The US needs a cap and trade system with auctioning of licenses for emissions rights. The revenues from these auctions can be used to launch a new, environmentally friendly energy policy. That would be yet another federal program that could help us to overcome the stagnation.

Proposition 19 already is a winner no matter what happens on election day. The mere fact of its being on the ballot has elevated and legitimized public discourse about marijuana and marijuana policy in ways I could not have imagined a year ago.