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Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in the greater fool 4. Run with the herd. 5. Overgeneralize 6. Be trendy 7. Play with other people's money

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
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This is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics.
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One way in which Americans have always been exceptional has been in our support for education. First we took the lead in universal primary education then the “high school movement” made us the first nation to embrace widespread secondary education.
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The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
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I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
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