Kelsoism is not accepted by modern scientific economics as a valid and fruitful analysis of the distribution of income but rather it is regarded as an amateurish and cranky fad.

The consumer, so it is said, is the king each is a voter who uses his money as votes to get the things done that he wants done.

A growing nation is the greatest ponzi game ever contrived.

You know what happiness is: 'Having a little more money than your colleagues.' And that's not so tough in academic life.

The debate can be put in the form of the question: Resolved, that the best of money managers cannot be demonstrated to be able to deliver the goods of superior portfolio-selection performance. Any jury that reviews the evidence, and there is a great deal of relevant evidence, must at least come out with the Scottish verdict: Superior investment performance is unproved.

I don't care who writes a nation's laws - or crafts its advanced treaties - if I can write its economics textbooks.

There is something in people; you might even call it a little bit of a gambling instinct… I tell people investing should be dull. It shouldn't be exciting. Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.