How much we owe to good teachers, good education, and good advice!

I decided to go to the London School of Economics to write my thesis for MIT, under James Meade, Nobelist with Bertil Ohlin in 1977.

In my early days, I wrote my dissertation for MIT at the London School of Economics, really under James Meade, but my dissertation was five chapters on the theory of capital movement, but it didn't mention money.

The U.S. berates China for its exchange rate policy, which Washington doesn't like. But one-sided pressure on China to change its exchange rate is misplaced.

The benefits from a world currency would be enormous.

It's political glue inside Europe to keep it together - the euro is the best thing going for it since the creation of the common market.

It's a lethal thing to suddenly raise taxes.

I took high school very casually. There was Teen Town, chess, tennis, boxing, running. Lots of things going on.

The whole idea of having a free trade area when you have gyrating exchange rates doesn't make sense at all. It just spoils the effect of any kind of free trade agreement.

As an undergraduate at UBC in Canada, I fell in love with economic theory. It was the right choice for me.