Knowledge is a free good. The biggest cost in its transmission is not in the production or distribution of knowledge, but in its assimilation. This is something that all teachers know.

Economics in college was very poor; I was not very impressed with it. I actually wanted to study statistics. I discovered mathematical statistics as an undergraduate and was fascinated with it.

I think that systems that are based on employment are illogical and attempts to meet them create all sorts of unnecessary complexities.

The health care provisions are presumably for individuals. And whoever pays for them, whether it's paid by the individual, state, whatever, the value is an individually based value. It has nothing to do with employment.

Unsolved problems, that's one of the great signs of progress in my opinion.

Family is a difficult matter. I must admit I do not know that the state can intervene successfully in a family. It's a fact that everything is connected with the individualist temperament, the kind of economic environment which stresses the individual, but this is not directly the result of a state policy, nor do I see any good way by which the state could intervene except in some marginal ways.

I'm struck by the fact that by and large equity capital doesn't play a big role in new financing; it's either bonds or internal financing but not really equity. And therefore, it's not clear that anything which improves the equity markets has really much to do with the productivity of the economy as a whole.