The U.K. and almost all of Europe have erred in terms of believing that austerity, fiscal austerity in the short term, is the way to produce real growth. It is not. You've got to spend money.

The long term versus the short term argument is one used by losers.

If you have a lesion in the hippocampus in both sides, you have short term memory, but you can convert that short term memory into long term memory.

We live in an age where everything is based on the short term.

If it is only short-term money I think the budget can handle that.

Humans are terrible at predicting the future. We really overestimate what we can do in the short term and underestimate what we can do in the long term... If we can glimpse even a couple of years into the future, even that's difficult to do.