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A lot more people are willing to invest in bonds denominated in euros. And there was the fiscal discipline argument, which is that this tied the hands of countries the market hasn't always trusted, which also helped them borrow at low rates.
Austan Goolsbee
People
Discipline
Argument
Market
Willing
Borrow
Rates
More
More People
Invest
Countries
Also
Tied
Always
Fiscal
Lot
Trusted
Hands
Which
Low
Them
Helped
Bonds
I'm not afraid to take a punch.
Austan Goolsbee
Punch
Take
Afraid
What Disneyland was to my kids at age 10, that's kind of what Chicago is for economists.
Austan Goolsbee
Age
Kids
Kind
Economists
Chicago
Disneyland
You have to be looking for a job to get unemployment benefits. If you stop looking for work, you are no longer eligible to receive benefits.
Austan Goolsbee
Work
You
Benefits
Job
Looking
Longer
Unemployment
Unemployment Benefits
Get
Stop
Eligible
Receive
All I'll say is if you look at countries where it is - where they are rapidly growing, they're investing in their infrastructure. They're investing in their educations. They are trying to streamline regulations, but they're not neglecting key investments.
Austan Goolsbee
You
Key
Neglecting
Say
Rapidly
Investing
Investments
Countries
Look
Educations
Trying
Where
Infrastructure
Regulations
Growing
What happened is we went into a recession beginning in December of 2007 that was the worst since 1929. And it is a very deep hole that we have been struggling to get out of.
Austan Goolsbee
Beginning
Recession
Worst
Out
Struggling
Since
Been
Very
Get
December
Happened
Hole
Deep
The U.S. is still in a pretty good spot, especially relative to other advanced countries. The aging of our population is not as pronounced as almost anyone else's.
Austan Goolsbee
Good
Other
Else
Our
Relative
Pretty
Pretty Good
Advanced
Almost
Countries
Spot
Still
Anyone
Aging
Population
In several quarters in the 2000s, if you added up all the private savings of everyone in the United States, it was less than nothing. You can't sustain that as a driver of growth.
Austan Goolsbee
You
Nothing
Added
Savings
Everyone
Several
States
Driver
Quarters
Private
Up
Than
Sustain
Less
United
United States
Growth
For every criticism of the U.S. economy, whenever people go into a panic, they look around and say, 'That's the cleanest shirt I have. So I'm putting it on.'
Austan Goolsbee
People
Criticism
Every
Panic
Say
Cleanest
Putting
Economy
Look
Around
Go
Shirt
Whenever
If you look at the Greek economic record, it's been very similar to the U.S. experience in the first four years of the Great Depression. And after having a Depression-sized event, they've cut the unit-labor cost in Greece - they've closed something like half the gap with Germany.
Austan Goolsbee
Depression
Great
You
Experience
First
Half
Closed
Great Depression
Record
Cost
Similar
Something
Having
Economic
Like
Look
Been
Years
Very
Greece
Germany
Greek
After
Cut
Gap
Event
Four
If Democrats don't go on Fox News, it doesn't mean that people stop watching.
Austan Goolsbee
News
People
Democrats
Go
Stop
Mean
Watching
Fox
Fox News
Research professors don't watch a whole lot of TV.
Austan Goolsbee
Research
TV
Lot
Whole
Professors
Watch
I always felt my role was like the pit crew in a NASCAR race, and President Obama was Dale Jr.- he's driving, and my job is to change the tires and get him back on the road.
Austan Goolsbee
Change
Job
Crew
President
Back
President Obama
Obama
Driving
He
Road
Like
Him
Felt
Always
NASCAR
Role
Get
Pit
Tires
Race
If you're going to be an academic who's involved in the world of policy, you have to be involved in the world that exists.
Austan Goolsbee
You
World
Academic
Involved
Policy
Exists
Going
I was always a data guy, not a theorist. Theorists can maintain total purity. The data are always messy.
Austan Goolsbee
Total
Guy
Data
Purity
Maintain
Messy
Always
Theorist
I don't see why anybody's playing chicken with the debt ceiling.
Austan Goolsbee
See
Ceiling
Chicken
Debt
Debt Ceiling
Anybody
Why
Playing
When the Internet first appeared, this heated debate developed among economists. One side said the Internet will make it easier for companies to price-discriminate, and it'll be fabulously profitable.
Austan Goolsbee
Debate
Internet
Will
First
Side
Easier
Developed
Economists
Make
Said
Heated
Companies
Appeared
Among
Profitable
Only Barack Obama consistently opposed NAFTA.
Austan Goolsbee
Consistently
Obama
Only
NAFTA
Opposed
Barack
Barack Obama
Trade has helped the economy grow. Simultaneously, a sizable number of Americans haven't shared in that bounty, and if we don't pay attention to their concerns, all the political favor for open markets will dry up.
Austan Goolsbee
Political
Will
Pay
Pay Attention
Markets
Favor
Open
Shared
Attention
Simultaneously
Bounty
Economy
Concerns
Dry
Trade
Up
American
Helped
Grow
Number
You can't look back at the worst financial crisis of our lifetimes that started in 2008 and not have some important lessons about the critical nature of oversights in financial markets and institutions.
Austan Goolsbee
Nature
You
Financial
Important
Back
Our
Markets
Worst
Financial Crisis
Crisis
Financial Markets
Critical
Some
About
Lifetimes
Institutions
Look
Lessons
Started
The debt ceiling is not something to toy with.
Austan Goolsbee
Something
Toy
Ceiling
Debt
Debt Ceiling
If we hit the debt ceiling, that's... essentially defaulting on our obligations, which is totally unprecedented in American history. The impact on the economy would be catastrophic.
Austan Goolsbee
History
Obligations
Our
Would
Would-Be
Unprecedented
Impact
Totally
Catastrophic
Economy
Ceiling
Debt
Debt Ceiling
Hit
American
Essentially
American History
Which
Koch Industries is a multibillion-dollar business.
Austan Goolsbee
Business
Industries
And one cannot discharge the duty of loyalty without the patient and an open minded study of the institution that marked the country and defined its character.
Bainbridge Colby
Loyalty
Character
Country
Duty
Patient
Marked
Minded
Defined
Open
Study
Open-Minded
Institution
Discharge
Without
Cannot
Thus, only in a hopeful and confident temper, in a proud and constructive spirit, will we rescue the present and safeguard the future of our beloved country.
Bainbridge Colby
Future
Will
Country
Our
Hopeful
Temper
Spirit
Only
Constructive
Thus
Safeguard
Proud
Confident
Rescue
Present
Beloved
Beloved Country
The ultimate purpose of economics, of course, is to understand and promote the enhancement of well-being.
Ben Bernanke
Economics
Promote
Purpose
Course
Well-Being
Understand
Ultimate
Enhancement
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