The only thing useful banks have invented in 20 years is the ATM.
When I hear complaints about less liquidity, remember there is such a thing as too much liquidity.
I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence.
A global economy requires a global currency.
If, at the end of the day, we need to raise taxes, we should raise taxes.
Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles.