It Is Not Easy To Get Rich

What We Know About The Global Financial Crisis Is That We Don't Know Very Much.

The Failure Of Market Catallactics In No Way Denies The Following Truth: Given Sufficient Knowledge The Optimal Decisions Can Always Be Found By Scanning Over All The Attainable States Of The World And Selecting The One Which According To The Postulated Ethical Welfare Function Is Best. The Solution 'exists'; The Problem Is How To 'find' It.

Thousands Of Important And Intelligent Men Have Never Been Able To Grasp The Principle Of Comparative Advantage Or Believe It Even After It Was Explained To Them

When The Economy Was Going Up, [milton Friedman And I] Both Gave The Same Advice, And When The Economy Was Going Down, We Gave The Same Advice. But In Between He Didn't Change His Advice At All.

If We Made An Income Pyramid Out Of A Child's Blocks, With Each Layer Portraying $1,000 Of Income, The Peak Would Be Far Higher Than The Eiffel Tower, But Almost All Of Us Would Be Within A Yard Of The Ground.