Trevisan has shown that constructions of pseudo-random generators from hard functions
(the Nisan-Wigderson approach) also produce extractors. We show that constructions of pseudo-random
generators from one-way permutations (the Blum-Micali-Yao approach) can be used for building extractors
as well. Using this new technique we build extractors that do not use designs or polynomial-based
error-correcting codes and that are very simple and efficient. For example, one extractor produces each
output bit separately in O(log^{2} n) time. These extractors work for weak sources with min entropy \lambda n,
for arbitrary constant \lambda > 0, have seed length O(log^{2} n), and their output length is approx n^{\lambda/3}.