I caught part of this interview on NPR today and wanted to recommend it:
http://www.npr.org/...
He addressed a variety of subjects including the debt ceiling situation:
On what might happen if the U.S. defaults on debt
"I tend to think it will be catastrophic. I think, more importantly, there is a high enough risk here that this is surely a game we don't want to play. ... There are events that economics call low-probability, high-impact events that you don't want to test. You don't want to see if this is one of those things that is an unlikely situation but once it happens could have a huge seismic global effect, because then the cost of dealing with the after-effects is just cataclysmic."
. . . and the politically driven failure of the United States to keep up with other advanced countries in terms of infrastructure and innovation:
On the government's role in innovation
"We have this debate in America that is almost a theoretical debate about the role of government in the economy and whether government should be involved, and I worry that while we're having this theoretical debate, on the other side of the world, the Chinese government is vigorously promoting industry after industry, the German government is vigorously promoting its manufacturing center, the South Korean government is vigorously promoting its manufacturing sector — and by the time we've resolved our debate, there won't be any industries left to compete in. It is absolutely clear that government plays a key role, as a catalyst, in promoting long-run growth."
He also talked about the difference in attitudes toward immigration between the time he came to the US and now. He highlighted the positive economic impact that immigration will have going forward in adding young, productive, creative, tax paying people to an aging population.
Very refreshing to hear an intelligent discussion of various issues facing us today instead of the usual drivel.