With uncertainty in oil markets, a buildup of speculative pressures and the large U.S. current account deficit, there is a real possibility that Paulson's crisis-management skills will be tested.

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.

I have always thought that underpopulated countries in Africa are vastly underpolluted.

All taxes discourage something. Why not discourage bad things like pollution rather than good things like working?

Just between you and me, shouldn’t the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Less Developed Countries]?... 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 that... I’ve always though that under-populated countries in Africa are vastly UNDER-polluted, their air quality is probably vastly inefficiently low compared to Los Angeles or Mexico City.

It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today. Our prosperity is linked inextricably to the maintenance of a strong world economy, an open international trading system, and stable global financial markets.

It was wrong to allow Stalin to shape the European landscape of the 20th century. It would be even more wrong to let him shape the landscape of the 21st century