The key to understanding life is to understand the interactions between its components.

Short-term debt can be dangerous because it creates the possibility of sudden runs.

Markets fail when information is asymmetric or incentives are misaligned.

El verdadero escritor no busca la fama, sino la verdad.

我们必须建立一个既能保护公民又不与世界隔绝的欧洲。

There is nothing more deceptive than an obvious fact.