Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.

I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.

It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making

Greenspan, who knew so much more than most, knew far less than most supposed.

You can't have the capitalist system if an increasing number of people think it is unjust.

Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.

If you think you understand what I am saying you do not understand what I am saying.