A snarky but accurate description of monetary policy over the past five years is that the Federal Reserve successfully replaced the technology bubble with a housing bubble

I believe in a relatively equal society, supported by institutions that limit extremes of wealth and poverty. I believe in democracy, civil liberties, and the rule of law. That makes me a liberal, and I’m proud of it.

The Obama campaign seems dangerously close to becoming a cult of personality.

Bad ideas flourish because they are in the interest of powerful groups.

The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.

I'm not sure that the current value of the NASDAQ is justified, but I'm not sure that it isn't.

On the political as on the economic front it's important not to fall into the "not as bad as" trap. High unemployment isn't O.K. just because it hasn't hit 1933 levels; ominous political trends shouldn’t be dismissed just because there’s no Hitler in sight.