We must recognise that in an integrated world, trade cannot be divorced from other concerns. We need to promote free trade and serious global efforts with respect to common problems even as we support every nation's right to chart its own course.

Takeovers wouldn't cause the stock market to rise unless there is an upward reassessment of earnings (potential). People are more optimistic and confident about the future.

One of those disturbing tendencies in academic life is that there is a desire on the part of many in the name of open-mindedness to fall into a kind of relativistic denialism in which all positions are equally legitimate, all positions must be respected, and compromise must be entered into no matter what the starting point or reasonableness of the two parties.

It certainly was difficult to sell NAFTA because it's always difficult to sell open markets.

Contagion has become very much a phenomenon, and it's a phenomenon of globalization.

It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today.

Most investors want to do today what they should have done yesterday.