“A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output.”
“While teaching, I also worked undercover in the lower courts by saying I was a young law teacher wanting experience in criminal law. The judges were happy to assist me but what I learned was how corrupt the lower courts were. Judges were accepting money right in the courtroom.”