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.

Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does.

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.

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

Even fans of actively managed funds often concede that most other investors would be better off in index funds. But buoyed by abundant self-confidence, these folks aren't about to give up on actively managed funds themselves. A tad delusional? I think so. Picking the best-performing funds is 'like trying to predict the dice before you roll them down the craps table,' says an investment adviser in Boca Raton, FL. 'I can't do it. The public can't do it.'

We are like highly trained athletes, who never run a race.

Profits are the lifeblood of the economic system, the magic elixir upon which progress and all good things depend ultimately. But one man's lifeblood is another man's cancer.