It is a set of policies formulated between 15th and 19th streets by the U.S. Treasury, and World Bank. Countries should focus on stabilization, liberalization, privatization.

The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn. Too late.

In the early 1990s, there was a debate among economists over shock therapy versus a gradualism strategy for Russia. The people in Russia who believed in shock therapy were Bolsheviks a few people at the top that rammed it down everybody's throat. They viewed the democratic process as a real impediment to reform.

We are helping the people that [George W.]Bush says are evil. Teheran couldn't be happier about the high oil prices resulting from the Iraq war.

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.

If you destroy a firm, you can't pull it out of bankruptcy overnight.

What you measure affects what you do. If you don't measure the right thing, you don't do the right thing.