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What we need to understand is, one, that there are market failures; and two, that there are things like asset bubbles and irrational exuberance. There are periods of booms, bubbles, and manias. These things, if left to themselves, can lead to crashes, to busts, to panics.

It bothers me when people spoil the market.

The markets are much more interested in America's long-term trajectory than they are in feeling that there is an acute short-term crisis.

Every now and then, markets behave like schoolchildren. They overreact, they run around like crazy.

The market, as we're all painfully aware in the aftermath of the banking crisis, can be an idiot. It has no perception of right or wrong, or even sensible or insane. It sees profit.

I think the market is always going to be around. The goal is not to say, let's get rid of the market, because the market does render a huge number of services, and I don't want to have a fight about the price of something every time I buy a book or a bottle of water.

Markets do very weird things because it reacts to how people behave, and sometimes people are a little screwy.

The cold, commercial word 'market' disguises its human character - a market is a collection of our aspirations, exertions, choices and desires.

We don't want to abandon any of the market we have now. We just want to gain new market.

Markets that don't work we're going to step away from.