I am not a monetarist, and I am not a Keynesian. On certain points I agree with each. Maurice Allais agreekeynesianmonetarist Change image and share on social
At the beginning of my career, my desire to understand was associated with a profound desire to act, with the wish to influence opinion and policy; but, over the years, this motivation has come to be of secondary importance, far behind my desire to understand. Maurice Allais actbegincareer share on social
In principle, junk bonds are basically useful, but they are used excessively and irrationally, notably in takeovers. Maurice Allais basicallybondexcessively Change image and share on social
My approach has never been to start from theories to arrive at facts, but on the contrary, to try to bring out from the facts the explanatory thread without which they appear incomprehensible and elude effective action. Maurice Allais actionapproacharrive share on social
It is understandable that the Fed injects cash to avoid the collapse of the stock market, but basically it is bad policy for monetary authorities to intervene to save speculators from bankruptcy. This is not their role. Maurice Allais authorityavoidbad share on social
In August 1914, my father was called to war and then taken prisoner. He died in captivity in Germany on March 27, 1915. My youth - indeed, my entire life - was deeply marked by this, directly and indirectly. Maurice Allais augustcallcaptivity share on social
