This message (that attempting to beat the market is futile) can never be sold on Wall Street because it is in effect telling stock analysts to drop d….

Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles..

A growing nation is the greatest ponzi game ever contrived..

Mea culpa, mea culpa. MIT and Wharton and University of Chicago created the financial engineering instruments, which, like Samson and Delilah, blinde….

What counts is results, and there can be no doubt that the Soviet planning system has been a powerful engine for economic growth...The Soviet model h….

Anyone with special abilities earns a differential return on that flair, which we economists call a rent. Those few with extraordinary P.Q. (Performa….

Macroeconomics, even with all of our computers and with all of our information - is not an exact science and is incapable of being an exact science..

The problem is no longer that with every pair of hands that comes into the world there comes a hungry stomach. Rather it is that, attached to those h….

We are like highly trained athletes, who never run a race..

We're a me-me-me generation. We're borrowing the savings of every nation in the world. We're ... piling up a big tab. Now, I may think we're too big ….

Good questions outrank easy answers..

The sad truth is that it is precisely those who disagree most with the hypothesis of efficient market pricing of stocks, those who pooh-pooh beta ana….

An American economist of two generations ago, H. J. Davenport, who was the best friend Thorstein Veblen ever had (Veblen actually lived for a time in….

Funeral by funeral, theory advances..

Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas..

The failure of market catallactics in no way denies the following truth: given sufficient knowledge the optimal decisions can always be found by scan….

Economists have much to be humble about..

If we made an income pyramid out of a child's blocks, with each layer portraying $1,000 of income, the peak would be far higher than the Eiffel Tower….

Reasonable men are not reasonable when you're in the bubbles which have characterized capitalism since the beginning of time..

I spent the four years I was an undergraduate working on the beach. And it wasn't because I was lazy; it was because my freshman class would go to a ….

That's what I would like to do until the end of time, to go on scribbling my articles on the third floor of the Sloan Building, in between playing te….