A growing nation is the greatest ponzi game ever contrived.

What we know about the global financial crisis is that we don't know very much.

An intriguing paradox of the 1990s is that it isn't called a decade of greed.

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 growth of a nation's productive potential is the central factor in determining its growth in real wages and living standards.... high rates of investment and saving usually have a big payoff in promoting economic growth.

The niceties of existence were not a matter of concern, yet everything around was closed down most of the time. If you lived in a middle-class community in Chicago, children and adults came daily to the door saying, 'We are starving, how about a potato?' I speak from poignant memory.

Second, they [those who disagree with market efficiency] always claim they know a man, a bank, or a fund that does do better. Alas, anecdotes are not science. And once Wharton School dissertations seek to quantify the performers, these have a tendency to evaporate into the air - or, at least, into statistically insignificant t-statistics.