When you see reference to a new paradigm you should always, under all circumstances, take cover. Because ever since the great tulipmania in 1637, speculation has always been covered by a new paradigm. There was never a paradigm so new and so wonderful as the one that covered John Law and the South Sea Bubble - until the day of disaster.

Modesty is a vastly overrated virtue.

Let's begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes - indeed, de…

It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

Evil reports of a churlish wilderness, a pitiless climate, disease, misery, and death, had heralded the arrival of De Monts. The outlay had been great, the ret…

'This time, it's different' are the four most expensive words in the English Language.