It Is Not Easy To Get Rich

Asia's Governments Come In Two Broad Varieties: Young, Fragile Democracies - And Older, Fragile Authoritarian Regimes.

What Good Does It Do A Black Youth To Know That An Employer Must Pay Him $2 An Hour If The Fact That He Must Be Paid That Amount Is What Keeps Him From Getting A Job?

Suppose It Was Demonstrated That One Out Of Twenty Alcoholics Could Learn To Become A Moderate Social Drinker. The Experienced Clinician Would Answer, 'even If True, Act As If It Were False, For You Will Never Identify That One In Twenty, And In The Attempt Five In Twenty Will Be Ruined.' Investors Should Forsake The Search For Such Tiny Needles In Huge Haystacks.

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.

Macroeconomics, Even With All Of Our Computers And With All Of Our Information - Is Not An Exact Science And Is Incapable Of Being An Exact Science.