The idea of confidence, of the emotions of the population, is an incredibly important one in economics. John Maynard Keynes called it 'animal spirit.' And if people are feeling generally good about the future, they're more likely to spend money, to start new companies; companies are more likely to hire people, make investments.

What there is no dispute about is whether or not China is a currency manipulator. They are a currency manipulator. They actively intervene every single day to keep the value of their currency less than it would be against the dollar than if it floated freely. We think. Even China barely disputes that.

What we want as an economy is companies and people, you know, working hard to come up with creative ways to be more productive. We don't want companies and people working hard to lobby government for special tax cuts.

Adam Davidson Quotes