...free enterprise, [is] a term that refers, in practice, to a system of public subsidy and private profit, with massive government intervention in the economy to maintain a welfare state for the rich.

The educational system is pretty much geared to passing the next exam. You're educated to pass tests and not to understand.

[Donald Trump] guru Steve Bannon is worse, he's much scarier. He probably knows what he's doing.

the Federal Reserve, has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment... The European central bank has only the first. It has no commitment to keep employment up.

[Mikhail] Gorbachev complained. He was told look, there's nothing on paper. People didn't actually say it but the implication was look, if you are dumb enough to take faith in a gentleman's agreement with us, that's your problem. NATO expanded to East Germany.

... an essential feature of a decent society, and an almost defining feature of a democratic society, is relative equality of outcome - not opportunity, but outcome. Without that you can't seriously talk about a democratic state... These concepts of the common good have a long life. They lie right at the core of classical liberalism, of Enlightenment thinking... Like Aristotle, [Adam] Smith understood that the common good will require substantial intervention to assure lasting prosperity of the poor by distribution of public revenues.

If you claim to have a theory that deduces unexpected consequences from nontrivial principles, let's see it.