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.

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

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

Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.

Two factors explain our success. One, MIT's renaissance after World War II as a federally supported research resource. Two, the mathematical revolution in macro- and micro-economic theory and statistics. This was overdue and inevitable, MIT was the logical place for it to flourish.

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.

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