There can be few fields of human endeavor in which history counts for so little as in the world of finance.Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of the those who do not have insight to appreciate the incredible wonders of the present.

Modesty is a vastly overrated virtue.

Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is an American audience so practiced in turning off its ears and minds. And none can say that the response is ill advised.

I am worried about our tendency to over invest in things and under invest in people.

There are days when the result is so bad that no fewer than five revisions are required. In contrast, when I'm greatly inspired, only four revisions are needed.

A good rule of conversation is never answer a foolish question.

Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.