A Growing Nation Is The Greatest Ponzi

An Intriguing Paradox Of The 1990s Is That It Isn't Called A Decade Of Greed.

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.'

In This Age Of Specialization, I Sometimes Think Of Myself As The Last 'generalist' In Economics, With Interests That Range From Mathematical Economics Down To Current Financial Journalism. My Real Interests Are Research And Teaching.

Economics Never Was A Dismal Science. It Should Be A Realistic Science.

The Consumer, So It Is Said, Is The King Each Is A Voter Who Uses His Money As Votes To Get The Things Done That He Wants Done.