From the development of the textile loom two centuries ago to today's Internet, output per hour has increased… — Alan Greenspan

An area in which more rather than less government involvement is needed, in my judgment, is the rooting out of fraud. It is the bane of any market system.

Over the years I have had the most contact with Lee Kuan Yew, most recently in 2006, and have always found him impressive, even though we do not always see eye to eye. I met him first when he was George Shultz's guest at the famous (or infamous, depending on your perspective) Bohemian Grove, a male only bonding retreat among the redwoods of California.

The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.