Richard Nixon Quotes

The BBC is locked to the reading of the economy that is run out of Ed Miliband and Ed Balls' office. They think if only you spend and borrow more money you can create growth everywhere.

Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.

Monetary policy and fiscal policy are inseparable.

I don't think Keynesian Monetarism has to be Democrat or Republican.

Whatever the economy needs to maintain itself, the government will do it.

The truth of the matter of is that stimulus money not only doesn't stimulate; it actually reduces output.

If borrowing and spending all this money led to more jobs than we would be at full employment already.

Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.

There is no left or right in economic management today.

Until Keynes, politicians had not needed economists for help in running the country any more than they had needed astronomers. But Keynes made them indispensible.

We should be humble about our ability to stimulate the economy with monetary policy.

A national government has to be able to spend money in a recession to make up for the private money that is not being spent.

Supply can create its own demand.

In an economy, when the government spends more and invests in the economy, that money circulates, and recirculates again and again. So not only does it create jobs once: the investment creates jobs multiple times.

Keynes did not teach us how to perform the miracle of turning a stone into bread, but the not at all miraculous procedure of eating the seed corn.

Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.

In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.

And so we have to be careful with looking at additional stimulus that we don't provoke an increase in the bond rate and then offset a lot of the stimulus we've already got.

Well, you know, we've got a lot of stimulus in the economy already from the tax cut, from the lowered interest rates, and also from the refinancing of mortgages.

At the time, my personal research objectives were to provide Keynesian economics with more rigorous foundations and to tighten and elaborate the logic of macroeconomic and monetary theory.

I don't accept as an article of faith that lots of short-term stimulus boosts the economy and gets us back on the long-term trajectory.

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.

I didn't wake up one day and say, you know, 'Supply-side economics doesn't make sense.'

Disciples of Keynes, who focus on aggregate demand, view any increase in household wealth as raising employment because they say it adds to consumer demand.

I think stimulus money is an absolute mistake.