The availability of private insurance provides tremendous insulation for millions of individuals

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

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.

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.

Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.

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

It says something about this new global economy that USA Today now reports every morning on the day's events in Asian markets.