It isn't that greed's increased. What's increased is the realization that you've got a free field to reach out for what you'd like to do.

I'm not sure most of the people that get caught up in the middle of a bubble can be described as irrational. It seems pretty rational to buy a house and flip it in the next few weeks at a profit when that's been happening for along time.

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.

I don't care very much for the People Magazine approach to applied economics.

I don't care who writes a nation's laws - or crafts its advanced treaties - if I can write its economics textbooks.

I spent the four years I was an undergraduate working on the beach. And it wasn't because I was lazy; it was because my freshman class would go to a hundred different employers and wouldn't get a nibble.

It isn't that greed's increased. What's increased is the realization that you've got a free field to reach out for what you'd like to do.