First, those who disagree with market efficiency simply assert that it stands to common sense that greater effort to get facts and greater acumen in analyzing those facts will pay off in better performance somehow measured. (By this logic, cure for cancer must have been found by 1955).
Paul SamuelsonSooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.
Paul SamuelsonThousands of important and intelligent men have never been able to grasp the principle of comparative advantage or believe it even after it was explained to them
Paul SamuelsonMarshall's crime is to pretend to handle imperfect competition with tools only applicable to perfect competition.
Paul SamuelsonEconomists are said to disagree too much but in ways that are too much alike: If eight sleep in the same bed, you can be sure that, like Eskimos, when they turn over, they'll all turn over together.
Paul SamuelsonOur 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'.
Paul Samuelson