Devaluations are never easy.

There is no economic imperative that will condemn us to deplete our vital resource base, but neither is there an invisible hand that will prevent us from doing so.

The truth of good economic doctoring is to know the general principles, and to really know the specifics. To understand the context, and also, to understand that an economy may need some tender loving care, not just the so-called hard truths, if it's going to get by.

History is written by the rich, and so the poor get blamed for everything.

My colleagues and I took a stand in our work several years ago that we would not look for the magic bullet, because there is none. These are just basic problems requiring basic work. Nothing magic about it.

America's government is not even aware of the gap between its commitments and action, because almost nobody in authority understands the actions that would be needed to meet the commitments.

The rich do not have to invest enough in the poorest countries to make them rich; they need to invest enough so that these countries can get their foot on the economic ladder . . . Economic development works. It can be successful. It tends to build on itself. But it must get started.