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"If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold."
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"The second most dangerous thing about money is that it leaves most of the people who have a lot of it with the unshakable belief that they are intelligent and well informed. The most dangerous thing about it is that it leaves most of the people who do not have a lot of money with the very same belief."
"It is unfortunately none too well understood that, just as the State has no money of its own, so it has no power of its own."
"We need a complete ban on soft money, which is sort of an enveloping problem, and a ceiling on the amount of money that can be spent on a given race."
"You know, if you look back in the 1930s, the money went to infrastructure. The bridges, the municipal buildings, the roads, those were all built with stimulus money spent on infrastructure. This stimulus bill has fundamentally gone, started out with a $500 rebate check, remember. That went to buy flat-screen TVs made in China."
"And I think the more money you put in people's hands, the more they will spend And if they don't spend it, they invest it. And investing it is another way of creating jobs. It puts money into mutual funds or other kinds of banks that can go out and make loans, and we need to do that."
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"Unfortunately, the real focus in this country has not been on the rest of the world. It's been on our own issues and our own problems. Fair enough. But it means that our simple hopes that everything will just work out abroad aren't really coming to pass."
"We were proposing, in a sense, that the rest of the world be made safe for American ideas, as they adopted intellectual property rights that gave patent protection to our very innovative economy."
"Senior development specialists in the Treasury can be counted on one hand. America's government is not even aware of the gap between its commitments and action, because almost nobody in authority understands the actions that would be needed to meet the commitments."
"The truth of good economic doctoring is to know the general principles, and to really know the specifics. To understand the context, and also, to understand that an economy may need some tender loving care, not just the so-called hard truths, if it's going to get by."
"The longer you wait, the less fun. If you wait until the bitter end, the whole economy can be destroyed."
"Despite a decade of criticism and budget cuts, the specialised UN agencies have far more expertise and hands-on experience than any other organisations in the world."
"We're going to have to forgive a great deal of the Soviet era debt. There's no question about that. Let's face up to that. We're going to have to put in money if Russia is really going to consolidate a democracy."
"In the early 1990s, when a lot of the developing world opened up to international capital flows... they ended up in very good long-term projects, but projects that weren't going to pay off for five or 10 or 20 years."
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