Not All Information Is Beneficial.

Monetary Policy Is Not A Panacea.

I And Others Were Mistaken Early On In Saying That The Subprime Crisis Would Be Contained. The Causal Relationship Between The Housing Problem And The Broad Financial System Was Very Complex And Difficult To Predict.

The Best Approach Here, If At All Possible, Is To Use Supervisory And Regulatory Methods To Restrain Undue Risk-taking And To Make Sure The System Is Resilient In Case An Asset-price Bubble Bursts In The Future.

In Fact, The World Needs More Nerds.

Both Humanity's Capacity To Innovate And The Incentives To Innovate Are Greater Today Than At Any Other Time In History.