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.

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.

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

Each profession has its own toolkit.

The ability to focus attention on important things is a defining characteristic of intelligence.

News media stimulate bubbles, since stories about them boost their audience.

There is more uncertainty than usual about job futures because computers are replacing more and more human intelligence, and globalization is proceeding at an accelerating pace.