“And the percentage changes in wage rates would be the same for all job grades.”

If you think you understand what I am saying you do not understand what I am saying.

Then fear hits, and it comes down very sharply. When I started to look at that.

If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.

I’m a better economist than I was a sax player.

I’m a plain soap kind of guy.

It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.

Amateurs want to be right. Professionals want to make money.

Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.

Political decisions are never random and will always lose out to innovative alternatives.

Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.

There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.

Whatever you tax you get less of.

The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.

These days, even out of office, I still read economic reports.

Now, I only play very occasionally, and in fact, more piano than clarinet or sax.

No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.

I think the trick with knowledge is to “acquire it, and forget all except the perfume” – because it is noisy and sometimes drowns out one’s own “brain voices”.

Who you truly are is a place of no particular thing, but all things at once.

Tugay is writhing around all over the place as if he were dead

I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.

George had taken off all ten of his fingers and tied them into a bundle with what appeared to be either his own small intestines.

All I ever wanted to be was a traveler and explorer.

…all his longings came out as a kind of disdain for what he longed for.

It’s where I keep all my things. Get a lot of compliments on this.