It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office.

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

Perhaps there really are managers who can outperform the market consistently - logic would suggest that they exist. But they are remarkably well-hidden.

You could be disqualified for a job [at Harvard] if you were either smart or Jewish or Keynesian. So what chance did this smart, Jewish, Keynesian have?

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.

Let those who will write the nation's laws, if I can write its textbooks.

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