As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns.

I recognized that information was, in many respects, like a public good, and it was this insight that made it clear to me that it was unlikely that the private market would provide efficient resource allocations whenever information was endogenous.

My teachers helped guide and motivate me; but the responsibility of learning was left with me, an approach to learning which was later reinforced by my experiences at Amherst.

If Trump actually wants to help those who have been left behind, he must go beyond the ideological battles of the past.

You've gotta have a healthy balance of keeping your eye on how much money is in your account and making sure that it can sustain a healthy, happy life.

The market economy is deeply congruent with the values set out in the Hebrew Bible. Material prosperity is a divine blessing. Poverty crushes the spirit as well as the body, and its alleviation is a sacred task. Work is a noble calling.

Everybody keeps saying that India's a poor country. Yes, we have poverty. But I blame the government of India, the political establishment, for their failure to educate and therefore their failure to control the poverty.

I'd never bought the idea that you don't lose money by underestimating the intelligence of the audience. Although perhaps I should add that I've never really made that much money.