This message (that attempting to beat the market is futile) can never be sold on Wall Street because it is in effect telling stock analysts to drop dead.

The consumer, so it is said, is the king each is a voter who uses his money as votes to get the things done that he wants done.

The failure of market catallactics in no way denies the following truth: given sufficient knowledge the optimal decisions can always be found by scanning over all the attainable states of the world and selecting the one which according to the postulated ethical welfare function is best. The solution 'exists'; the problem is how to 'find' it.

What counts is results, and there can be no doubt that the Soviet planning system has been a powerful engine for economic growth...The Soviet model has surely demonstrated that a command economy is capable of mobilizing resources for rapid growth.

In every mutual fund prospectus, in every sales promotional folder, and in every mutual fund advertisement (albeit in print almost too small to read), the following warning appears: "Past performance is no guarantee of future results."

Contrary to what many skeptics had earlier believed, the Soviet economy is proof that a socialist command economy can function and even thrive.

A growing nation is the greatest ponzi game ever contrived.