It's true that if you advise politicians on economic policy in the U.S. today, you spend your time in a cross between inquiry and combat. You are always on the periphery of harsh partisan warfare that has nothing to do with substance.

Good environmental policy is good economic policy.

My interest in economics has always been in the whole corpus of economic theory, the interrelationships between the various fields of theory and their relevance for the formulation of economic policy.

The successful conduct of economic policy is possible only if there is - and is seen to be - full agreement between the Prime Minister and the Chancellor of the Exchequer.

The problem is that once we focus on economic policy, much that is not science comes into play. Politics becomes involved, and political posturing is amply rewarded by public attention.

The media has brainwashed the electorate to expect the government to do something. The best economic policy of any government is to do nothing but reduce the size of the government, reduce the size of the laws, and reduce the size of regulations.