Author: Martin Feldstein

Quotes

Inflation is lower and more stable and the real business cycle fluctuations are more modest.

Inflation is lower and more stable and the real business cycle fluctuations are more modest.

- Martin Feldstein

To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.

To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.

- Martin Feldstein

First, I think the science of monetary economics has clearly gotten better.

First, I think the science of monetary economics has clearly gotten better.

- Martin Feldstein

And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets.

And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets.

- Martin Feldstein

A second reason why science cannot replace judgement is the behavior of financial markets.

A second reason why science cannot replace judgement is the behavior of financial markets.

- Martin Feldstein

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