Did anyone or any event especially influence your beliefs in life?
When I was young, I had the opportunity to attend a lecture given by [Friedrich August] von Hayek, the great Austrian economist whom I quite admired. And at the end of the lecture, someone asked a question. I’ll never forget von Hayek’s reply — he said, “I gather from the form of your question that you believe [such and such]. I also was of the same opinion for about 50 years, but lately I’ve been thinking about it a great deal, and I’ve decided it was a fundamental mistake.” I decided at that point that I wanted to be like him when I grew up — to be willing to rethink things.