Quotes About Macroeconomics

Our investments in social justice and basic needs are as vital to our future as fiscal and macroeconomic reforms. A nation deeply divided will not stand. And it certainly will not move forward.

Very few countries grow at high rate if inflation is high and volatile. I think, in a way, we are doing our bit to support a higher growth rate, but on a durable basis.

Our new economic approach is rooted in ideas which stress the importance of macro-economics, post neo-classical endogenous growth theory and the symbiotic relationships between growth and investment, and people and infrastructure.

Microeconomics is about money you don't have, and macroeconomics is about money the government is out of.

Microeconomics: The study of who has the money and how I can get my hands on it.Macroeconomics: The study of which government agency has the gun, and how we can get our hands on it.

When they so-called 'target the interest rate', what they're doing is controlling the money supply via the interest rate. The interest rate is only an intermediary instrument.

Inflation is determined by money supply growth.

To try to cure unemployment by inflation rather than by adjustment of specific wage-rates is like trying to adjust the piano to the stool rather than the stool to the piano.

We cannot hope to achieve full employment and sustain it until we have mastered inflation.

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.

Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.

In the late 1960s, the New Classical economists saw the same weaknesses in the microfoundations of macroeconomics that have motivated me. They hated its lack of rigor. And they sacked it.

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.

Macroeconomic policy can never be devoid of politics: it involves fundamental trade-offs and affects different groups differently.

Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible.

Microeconomists are wrong about specific things and macroeconomists are wrong about things in general!

Any econometrician who wants to see practical application of his science will be highly concerned with applications to economic planning at the national level.

Tax increases appear to have a very large sustained and highly significant negative impact on output.

The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits.

confidence, fairness, corruption, money illusion, and stories. These are real motivations for real people. They are ubiquitous. The presumption of mainstream macroeconomics that they have no important role strikes us as absurd.

Macroeconomics, even with all of our computers and with all of our information - is not an exact science and is incapable of being an exact science.

GDP statistics and Keynesian macroeconomic policy were mutually reinforcing.

Indeed, the idea of the economy as a machine, regulated by appropriate policy levers, took firm hold.

Deflation is defined as a general decline in prices, with emphasis on the word 'general.'