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.

The idea that we should be open to all ideas is very different from the supposition that all ideas are equally valid.

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.

Investment in girls' education may well be the highest-return investment available in the developing world.

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.

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.

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