What's the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That's the consensus among economists. That's the Hayek legacy.

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

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

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.

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.

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.