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

Good questions outrank easy answers.

But the trouble is that he [Alan Greenspan] had been an Ayn Rander. You can take the boy out of the cult but you can't take the cult out of the boy.

Every good cause is worth some inefficiency.

Reasonable men are not reasonable when you're in the bubbles which have characterized capitalism since the beginning of time.

Marshall's crime is to pretend to handle imperfect competition with tools only applicable to perfect competition.

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.