When I look out the window at my backyard, I can't think of anything interesting to ask. I mean, it's green, it's growing-but nothing occurs to me that any concentrated effort of thought could possibly enlighten. Whereas in economic, statistical, or mathematical kinds of things, I can think lots of questions.

The United States basically accepted protection abroad as the price of post-war recovery. Now, that these countries have caught up to our level of prosperity, it is time for them to catch up to our level of openness.

The only antidote to dangerous ideas is strong alternatives vigorously advocated.

There are idiots. Look around.

We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises.

I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to it.

If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles.