In the developed world, technological progress means that you can have a situation where there's growth, where there's a way in which everybody can be better off over time.

American government is not dominated by engineers, it is dominated by lawyers. Engineers are interested in substance and building things; lawyers are interested in process and rights and getting the ideology correctly blended. And so there is sort of no really concrete plan for the future.

Moving first is a tactic, not a goal.

University administrators are the equivalent of subprime mortgage brokers selling you a story that you should go into debt massively, that it's not a consumption decision, it's an investment decision. Actually, no, it's a bad consumption decision. Most colleges are four-year parties.

We might describe our world as having retail sanity, but wholesale madness.

I'm in favor of free trade, but I think if you had to make a choice between having technological progress versus free trade, you had one or the other, you should always pick technological progress. I think it's an incredibly important variable for creating more prosperity.

I do tend to think that things that have incredibly long time horizons often do involve market failures.