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Over and over, the economy has determined the extent of our response, but how much value does it place on breathable air, drinkable water, edible food and stable weather and climate? Surely the economy is the means to a better future, not an end in itself. Surely it must be subordinate to a rich, diverse ecosphere that sustains all life.

In a healthy economy, empowering, sustaining and efficiency innovations operate in balance. A healthy economy creates and sustains more jobs before squeezing out inefficiencies.

The U.S. has been living in a situation of excesses for too long. Consumers were out spending more than their income and the country was spending more than its income, running up large current-account deficits. Now we have to tighten our belts and save more.

Just as we should never balance the budget on the backs of the poor, so it is an economic delusion to think you can balance it only on the wallets of the rich.

Really, the proper study of economics is fulfilment, not consumption... It doesn't even matter if it's a green product or a green house... It's still consumption. What matters in this world is the fulfilment of people's needs and the fulfilment of their aspirations.

Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.

The entire economy, of course, is locked in a down cycle right now. Last time we weathered this was during another Bush presidency in '90. We were locked in it for a year and a half and everyone came out of it.

It is clear that the economy has not gotten better for everyone.

We need to accept that consumption is not the end goal of our life and stop measuring our well-being simply on the basis of earnings. We need to explicitly take the quality of our work-related life into account in judging our well-being.