Noam Chomsky

When General Allenby conquered Jerusalem during World War I, he was hailed in the American press as Richard the Lion-Hearted, who had at last won the Crusades and driven the pagans out of the Holy Land.

One of the best predictors of policy around is Thomas Ferguson's investment theory of politics, as he calls it - very outstanding political economist - which essentially - I mean, to say it in a sentence, he describes elections as occasions in which groups of investors coalesce and invest to control the state.

The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain around that fact. They want to believe that it's approximately efficient almost all the time, and it simply isn't true.