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If your credit is going to grow at 10-15 percent per year in order to get your 5 percent GDP growth per year, eventually you're going to have a problem. This isn't a stable system.
We need to move beyond the demonisation of overpaid traders ... In finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error.
The probability that we face global warming caused by fossil fuels is now so overwhelming that it is legitimate to doubt the motives of those who deny it
In economics, when you put together a highly elastic thing and a highly inelastic thing, you create extraordinary potential for turbulence, volatility, and for unstable prices.