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.

It's important to remember how fortunate we are as a country to have a currency and a bond market that is seen in every way as a source of strength and it's a huge responsibility for us to keep it that way.

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.

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.

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

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 dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution as one of the most important developments in economic history.