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You do not have to be an economist to know that putting up the cost of employing someone is a pretty barking thing to do when you're trying to get out of a recession.
The key to good decision making is evaluating the available information - the data - and combining it with your own estimates of pluses and minuses. As an economist, I do this every day.
The aim of the popularization of economic studies is not to make every man an economist. The idea is to equip the citizen for his civic functions in community life.
However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance that the analysis is actually relevant.
What the war did was give me the opportunity of three years of continuous reading, and it was in the course of reading that I became convinced that I should become an economist.
'Tis a good rule in every journey to provide some piece of liberal study to rescue the hours which bad weather, bad company, and taverns steal from the best economist.
The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.
I understand very well that politicians always have to bridge the gap until the next election, even if long-term dangers increase as a result. But as an economist, my time horizon is longer.
Government spending? I don't know what it's all about. I don't know any more about this thing than an economist does, and, God knows, he doesn't know much.
I don't think that any economist disputes that we're in the worst economic crisis since the great depression. The good news is that we're getting a consensus around what needs to be done.
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.
How do you measure whether or not a strategy of economic growth that is articulated by a very smart, capable economist actually yields growth? You can't. But you can influence.