Marshall's crime is to pretend to handle imperfect competition with tools only applicable to perfect competition.

Even if this advice to portfolio decision makers to drop dead is good advice, it obviously is not counsel that will be eagerly followed. Few people will commit suicide without a push. And fewer still will pay good money to be told to do what is against human nature and self-interest to do.

I don't care very much for the People Magazine approach to applied economics.

Economics has never been a science - and it is even less now than a few years ago.

It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office.

Our ideal society finds it essential to put a rent on land as a way of maximizing the total consumption available to the society. ...Pure land rent is in the nature of a 'surplus' which can be taxed heavily without distorting production incentives or efficiency. A land value tax can be called 'the useful tax on measured land surplus'.

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 analysis and all that, who are least able to understand the analysis needed to test that hypothesis.