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The market is a brilliant system for the exchange of goods and services, but it doesn't protect the environment unless it's regulated, it doesn't train your workforce unless it's regulated, and it doesn't give you the long-term investment you want.

Markets as well as mobs respond to human emotions; markets as well as mobs can be inflamed to their own destruction.

However, leaving everything to the market is not necessarily good for society.

There are some things that we value as a public good that the markets can't deliver, like clean air.

Once again, stock markets have been threatened with extinction for almost 75 years, and I have found that stock markets are harder to kill than roaches.

Though many corporations honor commitments to reduce dangerous pollution, some cut corners and cheat. The marketplace doesn't always have mechanisms to correct bad actors.

It is economically irrational to exclude large environmental costs from the balance sheets of the producers and the consumers. You are only kidding yourself if you export those costs on to society as a whole.

Ecosystems are holy. The word "environmental" is a deadly compromise itself. It's a policy word that lives only in the head, and barely there.

Moreover, the practical recommendations deduced from ecological principles threaten the vested interests of commerce; it is hardly surprising that the financial and political power created by these investments should be used sometimes to suppress environmental impact studies.

The markets are efficient over time.