Good Questions Outrank Easy Answers.

Economics Has Never Been A Science - And It Is Even Less Now Than A Few Years Ago.

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.

Investing Should Be More Like Watching Paint Dry Or Watching Grass Grow. If You Want Excitement, Take $800 And Go To Las Vegas.

The Stock Market Has Predicted Nine Of The Last Five Recessions.

Two Factors Explain Our Success. One, Mit's Renaissance After World War Ii As A Federally Supported Research Resource. Two, The Mathematical Revolution In Macro- And Micro-economic Theory And Statistics. This Was Overdue And Inevitable, Mit Was The Logical Place For It To Flourish.