Economists Don't Usually Make Good Speculators, Because

Until The Great Depression, Most Economists Clung To A Vision Of Capitalism As A Perfect Or Nearly Perfect System. That Vision Wasn’t Sustainable In The Face Of Mass Unemployment, But As Memories Of The Depression Faded, Economists Fell Back In Love With The Old, Idealized Vision Of An Economy In Which Rational Individuals Interact In Perfect Markets.

We Should Reject The Attempt To Divert The National Conversation Away From Soaring Inequality Toward The Alleged Moral Failings Of Those Americans Being Left Behind. Traditional Values Aren't As Crucial As Social Conservatives Would Have You Believe — And, In Any Case, The Social Changes Taking Place In America's Working Class Are Overwhelmingly The Consequence Of Sharply Rising Inequality, Not Its Cause.

I Believe In A Relatively Equal Society, Supported By Institutions That Limit Extremes Of Wealth And Poverty. I Believe In Democracy, Civil Liberties, And The Rule Of Law. That Makes Me A Liberal, And I’m Proud Of It.

What Saved The Economy, And The New Deal, Was The Enormous Public Works Project Known As World War Ii, Which Finally Provided A Fiscal Stimulus Adequate To The Economy’s Needs.

It's A Funny Thing, By The Way, How People Who Love Free Markets Are Also Quite Sure That They Know That Investors Are Being Irrational.