I study the history of economic thought to be surprised. I enjoy following the line of argument between various theories of human action, but the real payoff is when a writer does something unexpected: for instance, how can Adam Smith, so severe a moralist that he accused the ancient Stoics of self-indulgence, wind up approving of the theater as a force for the improvement of public morals? Enter his spectator theory of morals, which separates him from his closest colleagues. Reading past works is often an exercise in opening a tin of peanuts to find a snake jump out at you; those are wonderful moments.

Monetary theory is relevant to my interests because it studies the institutional rules guiding commercial relationships that create wealth and human flourishing. In architectural terms, it's the foundation and frame that supports the elegant facade. And yet for all the ink spilled on the subject we're still not quite sure what makes it strong.

Scholarship aside, I enjoy baseball, rowing and sailing, and pretending to be Scottish in my kilt. I read the Romantics to my sons at bedtime. Tweed is the future of fashion. I vacillate between Highland and Islay single malts.