5,882 quotes found
“So the story of the baby-sitting co-op is not a mere amusement. If people would only take it seriously—if they could only understand that when great economic issues are at stake, whimsical parables...”
“Here, then, is a revised version of Marshall's rules: (1) Figure out what you think about an issue, working back and forth among verbal intuition, evidence, and as much math as you need. (2) Stay w...”
“In short, the success of macroeconomic activism, in both theory and practice, has made it possible for free market microeconomics to survive--again both in theory and in practice.”
“The hangover theory, then, turns out to be intellectually incoherent; nobody has managed to explain why bad investments in the past require the unemployment of good workers in the present. Yet the ...”
“The serious lesson of the antics in Argentina, then, is that the big issues of monetary economics--fixed vs. flexible exchange rates, whether countries should have independent currencies at all--ar...”
“So you can take your pick as to which Mundell you prefer; but the Nobel committee basically honored Mundell the younger, the economist who was iconoclastic enough to imagine that Canada, of all pla...”
“The whole subject of the liquidity trap has a sort of Alice-through-the-looking glass quality. Virtues like saving, or a central bank known to be strongly committed to price stability, become vices...”
“There is no economic policy. That's really important to say. The general modus operandi of the Bushies is that they don't make policies to deal with problems. They use problems to justify things th...”
“...Exxon Mobil is a worse environmental villain than other big oil companies...Exxon, headed by Mr. Raymond, chose a different course of action: it decided to fight the science....And that's just w...”
“It’s a tribute to the importance of Friedman’s work that questions about his legacy bear so directly on contemporary policy issues. But for that reason it’s also important not to engage in hagiogra...”
“Whether the influence of increasing returns on trade and geography is rising or falling, one thing is clear: much was learned from the intellectual revolution that brought increasing returns into t...”
“So let’s bid a not at all fond farewell to the Big Zero — the decade in which we achieved nothing and learned nothing.”
“I know that when I look at today’s Mexicans and Central Americans, they seem to me fundamentally the same as my grandparents seeking a better life in America. On the other side, however, open immig...”
“… politics determine who has the power, not who has the truth.”
“It’s a great honour to be asked to give this talk, especially because I’m arguably not qualified to do so. I am, after all, not a Keynes scholar, nor any kind of serious intellectual historian. Nor...”
“If we discovered that, you know, space aliens were planning to attack and we needed a massive buildup to counter the space alien threat and really inflation and budget deficits took secondary place...”
“...and Newt [Gingrich] — although somebody said he’s a stupid man’s idea of what a smart person sounds like, but he is more plausible than the other guys that they’ve been pushing up.”
“International trade in goods and services has expanded steadily over the past six decades thanks to declines in shipping and communication costs, globally negotiated reductions in government trade ...”
“I was one of the first people to almost actually vomit over hearing the use of the phrase family values and I pride myself on never having fallen for the idea that Barbara Bush was sweet and grandm...”
“I have terrible short-term memory loss, which I like to think of as Presidential eligibility.”
