I am not a monetarist, and I am not a Keynesian. On certain points I agree with each.
From Maurice Allais
Wall Street has become a veritable casino.
The reality is that the institutional framework in which Wall Street operates is fundamentally inappropriate, and it inevitably generates violent fluctuations of the market.
In principle, junk bonds are basically useful, but they are used excessively and irrationally, notably in takeovers.
It would be just as pointless to oppose the international use of English today as it would have been to oppose the worldwide use of French in the 18th century.
We must take the world as it is and not as we would like it to be.
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