At 2 per cent growth a year, an economy doubles in size in just thirty years.

By any reasonable criteria, the discipline of economics as a whole, in its present state, is sadly lacking.

The reader might reflect that an awful lot of supposing has to take place in order for the quantity theory of money to be true.

Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible.

Despite the high salaries involved, employing economists is a cost-effective way for banks, and stockbrokers to secure exposure in the media.

Many Europeans, while admiring the strength and power of the American economy, undoubtedly feel that the system of social values which prevails in the United States, manifested in the acute problems evident in the inner cities and the level of violent crime, for example, leaves much to be desired.

Even in financial markets, the concept of market efficiency does not hold.