In essence, capitalist systems are a mechanism by which economies may generate growth in knowledge - with much uncertainty in the process, owing to the incompleteness of knowledge.

Capitalist systems function less well without state protection of investors, lenders, and companies against monopoly, deception, and fraud.

In countries operating a largely capitalist system, there does not appear to be a wide understanding among its actors and overseers of either its advantages or its hazards.

The Keynesian belief that 'demand' is always at the root of underemployment and slow growth is a fallacy.

I just think that the Europeans are depriving themselves of a high-employment economy, and they are depriving themselves of intellectual stimulation in the workplace - and personal growth - by sticking to the stultifying, rigid system that I call corporatism.

For decades, my research was driven by outstanding problems in macroeconomics: mainly growth theory and employment theory.