I think what they've been doing is largely almost in firefighting mode without a good conceptual framework - either at the micro or the macro level. Micro, you would ask: "What kind of financial or banking system do we want?" Macro, you would say: "What are the underlying problems in the structure of our economy?"

Amherst is a liberal arts college, committed to providing students with a broad education.

The analysis in the era of Ronald Reagan and Margaret Thatcher was that government was interfering with the efficiency of the economy through protectionism, government subsidies, and government ownership. Once the government "got out of the way," private markets would allocate resources efficiently and generate robust growth. Development would simply come.

Poverty is what we call the extremes at the bottom.

These debt obligations will simply erode America's standard of living in the future. Money spent to service the debt is money that we don't have to spend on consumption's goods, or on investment in our future.

Active learning is always involved with interaction between teachers and students and Socratic methods and that's gonna continue.

One has to always ask the question: Where can one be most effective in helping shape policies? It is always difficult when you're inside because you're very constrained.