Evolving technologies that allow economists to gather new types of data and to manipulate millions of data points are just one factor among several that are likely to transform the field in coming years.

In a slow-growing world that is short on aggregate demand, Germany's trade surplus is a problem.

The Fed's independence is critical.

In the past, Federal Reserve chairmen have not generally gone directly to the public.

To get rich, you have to be making money while you're asleep.

They say, 'We will give you money, but we want you to play this or that.' And I always thought, 'If I'm going to do that, I might as well go back and be a dishwasher.'

What is important is that in a capital-scarce country like India, the real interest rate needs to be positive enough to encourage healthy growth of financial savings; we get into macro difficulties when real rates on financial savings become negative for a length of time.

Over the years, many in the public have become numb to news of financial corruption, partly because too many of these stories involve banker-on-banker crime.