Corruption is government intrusion into market efficiencies in the form of regulations.

We don't have a desperate need to grow. We have a desperate desire to grow.

The collapse of communism in essence added tens and tens of millions of people to the world labor supply, and the people who were added had previously been getting very low income, but they were not unskilled. Many of them were fairly well educated.

What works for Sweden wouldn't work for France or Germany or Italy. In a small state, you can reach outside for many of your activities. In a homogeneous culture, they are willing to pay higher taxes in order to achieve commonly held goals. But "common goals" are much harder to come by in larger, more heterogeneous populations.

What would the people who sold us goods do with the money? They'd get dollars. What would they do with the dollars? Eat them?!

China's productive system draws upon the other East Asian countries to a great extent. The volume of trade is much larger than the net amount being exported from China. China needs substantial reserves to finance all that.

The case against a fully independent central bank is strong indeed.