Being an economist is the least ethical profession, closer to charlatanism than any science.

People work out, they stress their body, and their body gets stronger from stress.

The number of managers with great track records in a given market depends far more on the number of people who started in the investment business (in place of going to dental school), rather than on their ability to produce profits.

Academia is to knowledge what prostitution is to love.

The narrative fallacy addresses our limited ability to look at sequences of facts without weaving an explanation into them, or, equivalently, forcing a logical link, an arrow of relationship, upon them. Explanations bind facts together. They make them all the more easily remembered; they help them make more sense. Where this propensity can go wrong is when it increases our impression of understanding.

You have family-owned businesses that have been around for 500 years. You cannot name a corporation that survives intact for even a few decades.

Academia is to knowledge what prostitution is to love; close enough on the surface but, to the non-sucker, not exactly the same thing.