Man Does Not Live By Gnp Alone.

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

Kelsoism Is Not Accepted By Modern Scientific Economics As A Valid And Fruitful Analysis Of The Distribution Of Income But Rather It Is Regarded As An Amateurish And Cranky Fad.

Second, They [those Who Disagree With Market Efficiency] Always Claim They Know A Man, A Bank, Or A Fund That Does Do Better. Alas, Anecdotes Are Not Science. And Once Wharton School Dissertations Seek To Quantify The Performers, These Have A Tendency To Evaporate Into The Air - Or, At Least, Into Statistically Insignificant T-statistics.

Econometrics May Be Defined As The Quantitative Analysis Of Actual Economic Phenomena Based On The Concurrent Development Of Theory And Observation, Related By Appropriate Methods Of Inference.

The Sad Truth Is That It Is Precisely Those Who Disagree Most With The Hypothesis Of Efficient Market Pricing Of Stocks, Those Who Pooh-pooh Beta Analysis And All That, Who Are Least Able To Understand The Analysis Needed To Test That Hypothesis.