Funeral by funeral, theory advances.

Every good cause is worth some inefficiency.

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

Politicians like to tell people what they want to hear - and what they want to hear is what won't happen.

Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.

Self-deception ultimately explains Japan's plight. The Japanese have never accepted that change is in their interest - and not merely a response to U.S. criticism.

In this age of specialization, I sometimes think of myself as the last 'generalist' in economics, with interests that range from mathematical economics down to current financial journalism. My real interests are research and teaching.