I Believe In A Relatively Equal Society,

I've Always Believed That A Speculative Bubble Need Not Lead To A Recession, As Long As Interest Rates Are Cut Quickly Enough To Stimulate Alternative Investments. But I Had To Face The Fact That Speculative Bubbles Usually Are Followed By Recessions. My Excuse Has Been That This Was Because The Policy Makers Moved Too Slowly - That Central Banks Were Typically Too Slow To Cut Interest Rates In The Face Of A Burst Bubble, Giving The Downturn Time To Build Up A Lot Of Momentum.

Friedrich Hayek Is Not An Important Figure In The History Of Macroeconomics.

Surely I'm Not The Only Person To Ask The Obvious Question: How Different, Really, Is Mr. Madoff's Tale From The Story Of The Investment Industry As A Whole?

If You're Doing Your Job Right, Some Substantial Group Of People [is] Going To Be Mad At You.

If You Want A Simple Model For Predicting The Unemployment Rate In The United States Over The Next Few Years, Here It Is: It Will Be What Greenspan Wants It To Be, Plus Or Minus A Random Error Reflecting The Fact That He Is Not Quite God.