Economists Have Much To Be Humble About.

The Stock Market Has Predicted Nine Of The Last Five Recessions.

Two Factors Explain Our Success. One, Mit's Renaissance After World War Ii As A Federally Supported Research Resource. Two, The Mathematical Revolution In Macro- And Micro-economic Theory And Statistics. This Was Overdue And Inevitable, Mit Was The Logical Place For It To Flourish.

The Niceties Of Existence Were Not A Matter Of Concern, Yet Everything Around Was Closed Down Most Of The Time. If You Lived In A Middle-class Community In Chicago, Children And Adults Came Daily To The Door Saying, 'we Are Starving, How About A Potato?' I Speak From Poignant Memory.

Two-thirds Of A Century After [the Road To Serfdom] Got Written, Hindsight Confirms How Inaccurate Its Innuendo About The Future Turned Out To Be.

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.