In the history of the world, no one has ever washed a rented car.
Contagion has become very much a phenomenon, and it's a phenomenon of globalization.
If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles.
But ultimately what I was impressed by during my years in government was how much the intellectual climate and the prevailing intellectual notions constrained and represented the universe within which the discourse took place.
The United States basically accepted protection abroad as the price of post-war recovery. Now, that these countries have caught up to our level of prosperity, it is time for them to catch up to our level of openness.
The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution as one of the most important developments in economic history.
It was wrong to allow Stalin to shape the European landscape of the 20th century. It would be even more wrong to let him shape the landscape of the 21st century.
Start with the idea that you can't repeal the laws of economics. Even if they are inconvenient.
Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.
I've always thought that underpopulated countries in Africa are vastly underpolluted.
The availability of private insurance provides tremendous insulation for millions of individuals.
It certainly was difficult to sell NAFTA because it's always difficult to sell open markets.
You can't have a situation in which companies proceed on a permanent basis relying only on cash from the government.