“Then fear hits, and it comes down very sharply. When I started to look at that.”

I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.

Significantly opening up immigration to skilled workers solves two problems.

If you think you understand what I am saying you do not understand what I am saying.

If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.

I’m a better economist than I was a sax player.

I’m a plain soap kind of guy.

It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.

Amateurs want to be right. Professionals want to make money.

Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.

Political decisions are never random and will always lose out to innovative alternatives.

Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.

There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.

Whatever you tax you get less of.

The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.

These days, even out of office, I still read economic reports.

Now, I only play very occasionally, and in fact, more piano than clarinet or sax.

I almost believe that Harriet Tubman asked God for a leave like, “I’m gonna need to go back down there and take care of some things. They’re in trouble.”

I had to bring myself back down to being a normal person again.

I think there’s a down-to-earthness with Midwesterners and with people from the Midlands – which is where my family is from – in Ireland.

What’s swinging in words? If a guy makes you pat your foot and if you feel it down your back, you don’t have to ask anybody if that’s good music or not. You can always feel it.

Ups and downs are a constant in life, and I’ve been belted into that roller coaster a thousand times.

If you’re gonna live for what people say, you might as well lay down and forget it. Because it doesn’t work that way.

I had flops, I had success.

For me to sit down here, even as a Nobel Laureate and make a prediction about which science I think that will be a mistake.