I think that for the developing world there are many versions of capitalism, and countries have to choose one that's appropriate.

It's actually a tribute to the quality of economics teaching that they have persuaded so many generations of students to believe in so much that seems so counter to what the world is like. Many of the things that I'm going to describe make so much more common sense than these notions that seem counter to what one's eyes see every day.

Most poor people earn more than minimum wage when they are working; their problem is not low wages. The problem comes when they are not working.

Health care is very different from other sectors of the economy in several respects, one of which is the fact that the risk can be very high beyond people's ability. That leads to insurance.

Put yourself in the shoes of one of these oligarchs who has been given a gift of $10 billion. Russia is in a deep depression. Nobody's investing. There is a widespread political consensus that the way you got your wealth is illegitimate.

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

Policies seemed almost deliberately designed to suppress new enterprise and job creation. How many Americans will start a business if the interest rates are 150 percent?