Mea culpa, mea culpa. MIT and Wharton and University of Chicago created the financial engineering instruments, which, like Samson and Delilah, blinded every CEO. They didn't realize the kind of leverage they were doing and they didn't understand when they were really creating a real profit or a fictitious one.

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

The growth of a nation's productive potential is the central factor in determining its growth in real wages and living standards.... high rates of investment and saving usually have a big payoff in promoting economic growth.

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

To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties.

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.

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