I have argued that we need livelihood insurance, which would protect people against the risk of seeing their skills and expertise no longer needed. Such insurance could be offered by the private sector.

In the longer run and for wide-reaching issues, more creative solutions tend to come from imaginative interdisciplinary collaboration.

Somehow, talking to young students brings you back to reality - it should, anyway.

Each profession has its own toolkit.

It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.

I am worried that the collapse of home prices might turn out to be the most severe since the Great Depression.

My clinical psychologist wife of 40 years has always had a close intellectual influence on me. When I was beginning to talk openly in the economics profession about irrationality in decision-making, I received a lot of criticism. Ginny would support my views and remind me that a whole other profession - psychology - studies people's irrational sides.