Governments can enhance growth by increasing inclusiveness. A country's most valuable resource is its people. So it is essential to ensure that everyone can live up to their potential, which requires educational opportunities for all.

Nationalization of private debts undermines prudential lender behavior and is a government intervention in the market.

Governments can enhance growth by increasing inclusiveness. A country's most valuable resource is its people. So it is essential to ensure that everyone can live up to their potential, which requires educational opportunities for all.

Capital market liberalization includes freeing up deposit and lending rates, opening up the market to foreign banks, and removing restrictions on capital account transactions and bank lending. The focus is on deregulation, not on finding the right regulatory structure.

Trump said we got snookered. That those agreements like NAFTA were the worst agreements ever and suggested that our trade negotiators were snookered by these smart negotiators from Mexico or Africa. It is laughable. I have watched these trade negotiations. We got what we wanted.

Now it is unambiguously clear that trickle-down economics does not work. But what does that mean? That means we have to structure our economic policies to make sure that we have shared prosperity. And you don't do that by giving a tax cut to the big winners and raising taxes on those who have not done very well. Your economic policy has to respond to the way our economic system has been working.

Economists often like startling theorems, results which seem to run counter to conventional wisdom.