What is it that the scientist finds useful in being able to relate a positive description of behavior to the solution of a maximizing problem? That is what a good deal of my own early work was about.
The history of the twentieth century - America's century! - has been pretty much a history of rising prices.
Let those who will - write the nation's laws - if I can write its textbooks.
Things swept so badly that I had distrust - after 1967, let's say - of American Keynesianism. For better or worse, U.S. Keynesianism was so far ahead of where it started. I am a cafeteria Keynesian.
It is dead wrong about necessary surplus of winnings over losings.
In this age of specialization, I sometimes think of myself as the last 'generalist' in economics, with interests that range from mathematical economics down to current financial journalism. My real interests are research and teaching.
