Forsake search for needles that are so very small in haystacks that are so very large.

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

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.

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

Anyone with special abilities earns a differential return on that flair, which we economists call a rent. Those few with extraordinary P.Q. (Performance Quotient) will not give away such rent to the Ford Foundation or the local bank trust department. They have too high an I.Q. for that.

Forsake search for needles that are so very small in haystacks that are so very large.

A growing nation is the greatest ponzi game ever contrived.