Global demand for dollars has supplanted demand for manufactured goods and services, resulting in multilateral trade deficits and loss of jobs at home.

You can't overestimate what happens when you encourage regulators to believe that the goal of regulation is not to regulate.

When you're facing the threat of recession, you need to have an expansionary monetary and fiscal policy. Pre-Keynesian, Hooverite views are dead everywhere except on 19th Street in Washington.

The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.

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

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

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.