When I was growing up in South Korea in the '70s and early '80s, the country was too poor to buy original records. Everything was bootlegged.

I am one of the most successful economists, according to what markets tell us, though most of my professional colleagues, who are much keener to accept market outcomes than I am, would dismiss me as a crank or - the worst of all abuses among economists - a 'sociologist.'

Overcoming the myth that there is such a thing as an objectively defined 'free market' is the first step towards understanding capitalism.

When we assess the impact of technological changes, we tend to downplay things that happened a while ago.

Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.

In business, every phase of things counts. Companies that just yell out a low price today to win business aren't going to make money in the long term.

Technology has given us convenience, but at the same time it's making musicians work harder in that if you really want to make money making music and selling albums, you have to go out there and perform. And hope you sell stuff like merch, and get on YouTube, and all the other ancillary sort of things that go along with that.

The College Board is officially a non-profit. But all that means is that it doesn't have shareholders and that their financial accountings must be available to the public; it certainly doesn't mean that they're not also into making money.