Paul Samuelson

The history of ship navigation on the shores of England shows us that when explaining events we need to take a look not only on the market failures, but also on the state failures. These played a bigger role than the textbooks\' authors might expect.

Funny thing is that even professors of economics in the United States themselves were often not able to see the worse performance and lagging of centrally planned economies. Too much of intellectual work sometimes makes people forget to look out of the window.