Over time, the welfare state has become dysfunctional in a surprising way. But in a way it became a victim of its own success: It became so successful at prolonging life, that it becomes financially unsustainable, unless you make major changes to things like retirement ages.

When I first came to Oxford, I struggled to feel comfortable in an Anglican, public school-dominated institution.

The British press has an insatiable appetite for making public things that should be private. It's a prurience that I've never understood.

Risk models are a substitute for historical knowledge, because they tend to work with just three years' worth of data. But three years is not a long time in financial history.

Gary Cooper was a good friend. He was a great nature lover. He was like an American Indian, he knew every leaf that was turned over. It was an education to go for a walk with him.

I had an excellent Ivy League education, and it gave me a long view of things.

You can't build a revolution with no education. Jomo Kenyatta did this in Africa, and because the people were not educated, he became as much an oppressor as the people he overthrew.

Aware that his disappointment has its source in a defective education, he looks with anxiety on his other daughters, whose minds, like lovely buds, are beginning to open. Where shall he find a genial soil in which he may place them to expand?