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.

I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.

The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.

Anyone who thinks that the last 80 years, ever since FDR took us off gold, have been a doomed venture, that strikes me as kind of cranky.

If you are a good economist, a virtuous economist, you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist.

We should try to create the society each of us would want if we didn't know in advance who we'd be.

When stock prices are rising, it's called ''momentum investing''; when they are falling, it's called ''panic.''