“We don’t know how to get out of this malaise and I think we now have to consider more radical policies.”

If we don’t constrain them, and the fact that credit is primarily created to fund the purchase of urban real estate and land, which is somewhat fixed in supply.

All the empirical evidence suggests that the rich tend to consume a lower proportion of income than middle and lower-income people.

Rising inequality can create a more highly leveraged economy, and it can then make the economy vulnerable to a crash like 2008.

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.

This isn’t a stable system.

We’re not where we should be in terms of our national economies.

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.

In finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error.

In absolute terms, we may have to look at restricting the number of flights people take.

The richer people, when they get another $100,000, or another million, or 10 million, don’t tend to spend it as much as the poorer people would if they got another $100 or $1,000 or $5,000.

The capitalist system is not delivering those decade-after-decade increases it promised.

Instability mostly comes from the interface between the fact that the banks (or shadow banks) can create credit, money, and purchasing power in infinite quantities

We need to move beyond the demonisation of overpaid traders

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

Health care is one-sixth of our economy. If the government can control that, they can control just about everything. We need to understand what is going on, because there are much more economic models that can be used to give us good health care than what we have now.

Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.

I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.

The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.

If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.

The Obama-Clinton economy has done enormous damage to the Hispanic community.

We need to have a regulatory budget in America that limits the amount of regulations on our economy. We need to repeal and replace Obamacare and we need to improve higher education so that people can have access to the skills they need for 21st century jobs.

The government doesn’t run the economy. The economy is run by the private sector. The job of the president is to ensure we [the state] have policies that allow the private sector to grow and prosper.