Quotes by Economists

The right way to deal with a budget problem that was years in the making is by formulating a credible plan to reduce the deficit over time and as the economy is able to withstand the necessary fiscal belt-tightening. That is what President Obama is doing. Christina Romer
Time Problem President President Obama Deficit Way Right Way Obama Able Over Budget Economy Deal Withstand Making Reduce Fiscal Doing Years Plan Credible Right Necessary
As a former member of President Obama's economic team, I have a soft spot for the fiscal stimulus legislation he signed just a month after his inauguration. Christina Romer
Soft Spot President Month Member Signed Obama Economic He Spot Fiscal Stimulus His Legislation Just After Former Inauguration Team Soft
The stimulus legislation, technically known as the American Recovery and Reinvestment Act of 2009, was a mixture of tax cuts for families and businesses; increased transfer payments, like unemployment insurance; and increased direct government spending, like infrastructure investment. Christina Romer
Government Technically Increased Spending Direct Recovery Investment Like Known Insurance Stimulus Mixture Government Spending Unemployment Families American Legislation Tax Transfer Tax Cuts Infrastructure Cuts Act Payments Businesses
Recent research suggests that New Deal programs may actually have had their primary impact on the economy by influencing consumer and business expectations of future growth and inflation. Christina Romer
Future Business Inflation Research Programs Impact Consumer Had Primary New Economy New Deal Deal Expectations May Influencing Actually Growth Recent
If you think about it, candidate Obama, Sen. Obama, was running on sort of long-run economic issues, like restoring prosperity to the middle class, dealing with the perennial problem of health care in the United States. He talked a lot about the budget deficit, about the need to transition to clean energy. Christina Romer
Health You Class Problem Prosperity Care Energy Think Deficit States Obama Running Restoring About Economic Perennial Clean Clean Energy He Budget Budget Deficit Like Talked Sort Health Care Dealing Issues Lot Candidate Middle Middle Class Transition United United States Need
A natural way that an economist approaches a problem is to say, here's where I think the economy is going; this is what we need to deal with the problem. Christina Romer
Natural Problem Think Approaches Way Say Economist Economy Deal Going Where Natural Way Here Need
I think something that forces financial institutions to write down underwater mortgages, I think, would be a sensible thing to do. Christina Romer
Financial Down Think Would Would-Be Something Write Mortgages Institutions Forces Underwater Sensible Thing
Honest talk about the deficit is risky. Voters are more enthusiastic about the abstract notion of deficit reduction than about the painful details of accomplishing it. Christina Romer
Deficit Deficit Reduction Details Enthusiastic About More Risky Abstract Voters Talk Reduction Accomplishing Than Notion Painful Honest
Fewer people working means permanently lower tax revenues. Christina Romer
People Permanently Revenues Fewer Tax Tax Revenues Lower Working Means
Making labor less expensive helps firms hire people. Christina Romer
People Making Hire Labor Expensive Less Helps
There's a joke in economics about the drunk who loses his keys in the street but only looks for them under the lightposts. When asked why, he says, 'because that's where the light is.' That's the problem with the deficit. Christina Romer
Problem Light Joke Economics Drunk Keys Deficit Says About Only He Looks Because Loses His Where The Problem With Them Asked Who Why Street
Climate change and dependence on foreign oil are problems that won't go away on their own. Tabling plans to deal with them doesn't make it easier for companies to plan and invest; it makes it harder. Christina Romer
Change Problems Go Away Own Easier Invest Make Deal Makes Climate Foreign Climate Change Foreign Oil Go Dependence Oil Them Plan Plans Companies Away Harder
I think anyone who gets the Nobel Prize has to be a little bit embarrassed to be picked out when there have been so many people who have contributed. Christopher A. Sims
People Think Bit Embarrassed Out Picked Nobel Nobel Prize Been Prize Gets So Many People Anyone Little Little Bit Who Many
The status quo is the only solution that cannot be vetoed. Clark Kerr
Status Solution Status Quo Only Quo Cannot
As far as I could tell, I was the first person anywhere in my family tree to go to university. Clive Granger
Family First Tree Tell Could First-Person Go Person As Far As Anywhere Far University
On completing my degree, I started a Ph.D. in statistics, although I knew very little about the topic. My supervisor was Professor Harry Pitt, who was an excellent pure mathematician and probabilist. Clive Granger
Degree Pure Harry Completing Topic Statistics About Excellent Supervisor Knew Although Mathematician Very Pitt Little Who Professor Started
There are many types of economic data, but the type considered by Rob Engle and myself is know as time series. Clive Granger
Time Myself Type Types Considered Data Economic Rob Know Many Series
I think it is true to say that I am not the first Nobel Prize winner in economics to have little formal training in economics. Clive Granger
Training Winner First Economics Think Say Nobel Nobel Prize True Am Prize Formal Little
I wonder if economics has less basic core material than is necessary for fields such as mathematics, physics, or chemistry, say. Clive Granger
Mathematics Physics Economics Chemistry Say Material Wonder Than Fields Less Basic Necessary Core
I work with the macro economy, which involves the major variables that measure the health of the whole economy, such as total consumption, investment, income, employment, and inflation. Clive Granger
Work Health Inflation Total Variables Investment Consumption Major Economy Involves Employment Which Measure Whole Income
Rob Engle and I are concerned with extracting useful implications from economic data, and so the properties of the data are of particular importance. Clive Granger
Data Properties Economic Implications Rob Particular Importance Concerned Useful
I preferred to use mathematics in some practical fashion and thought that meteorology sounded promising. Clive Granger
Mathematics Fashion Thought Promising Some Practical Preferred Use
We see that hyperactivity and reward areas are important when the bubble's rising. People getting caught up in it. We also see areas involving mentalizing, which means thinking about other people: Who's buying? Who's selling? Do they know something? We see emotional areas before the crash that indicate a sense of uncertainty or dread. Colin Camerer
People Reward Important Before Sense Thinking Other Dread See Indicate About Something Rising Uncertainty Area Emotional Bubble Know Also Involving Caught Up Selling Getting Crash Which Means Buying
As the future is never known with certainty, the evaluation of the prospective benefits requires the formation of expectations. An acceptable house, partner or job, then, is one that offers an expected stream of future benefit that has a value in excess of the option to continue to search for an even better alternative. Dale T. Mortensen
Future Stream Benefits Better Job Value Partner Benefit Excess Never Prospective House Known Alternative Acceptable Continue Offers Option Expectations Expected Formation Then Requires Certainty Evaluation Search Even
Economics is a strange science. Our subject deals with some of the most important as well as mundane issues that impinge on the human condition. Dale T. Mortensen
Science Strange Economics Important Our Some Impinge Most Well Deals Issues Condition Subject Human The Most Important Human Condition Mundane
In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables. Dale T. Mortensen
Financial Wealth Drop Increase Savings Financial Crisis Crisis Response Attempt Reducing Did Expenditure Suffered Assets Consequence
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