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

Every good cause is worth some inefficiency.

Anyone with special abilities earns a differential return on that flair, which we economists call a rent. Those few with extraordinary P.Q. (Performance Quotient) will not give away such rent to the Ford Foundation or the local bank trust department. They have too high an I.Q. for that.

The niceties of existence were not a matter of concern, yet everything around was closed down most of the time. If you lived in a middle-class community in Chicago, children and adults came daily to the door saying, 'We are starving, how about a potato?' I speak from poignant memory.

Macroeconomics, even with all of our computers and with all of our information - is not an exact science and is incapable of being an exact science.

Economists are said to disagree too much but in ways that are too much alike: If eight sleep in the same bed, you can be sure that, like Eskimos, when they turn over, they'll all turn over together.

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.