You know there are very few Marxists left in the world... they're all in American universities.

Theories can be based on any assumptions, however bizarre.

We had much freer trade in the 19th century. We have much less globalization now than we did then.

The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.

I'm in favor of legalizing drugs. According to my values system, if people want to kill themselves, they have every right to do so. Most of the harm that comes from drugs is because they are illegal.

Legalizing drugs would simultaneously reduce the amount of crime and raise the quality of law enforcement. Can you conceive of any other measure that would accomplish so much to promote law and order?

I believe that the monetary stability is an absolutely critical element in the satisfactory operation of a system.