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"The funds from the sale were put into research and general teaching budgets at the university. Wharton Econometric Forecasting Associates, Inc., is now a growing enterprise with many model and other econometric facilities."
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"He became convinced that ordinary commercial financing could be done for a service charge plus an insurance fee amounting to much less that the current rates of interest charged by banks, whose rates were based on supply and demand, treating money as a commodity rather than as a sovereign state's means of exchange."
"Thirty to 40 years ago, most financial decisions were fairly simple."
"When you work hard in a job that suits your living standards, never greed for fortune because you will distract yourself from fulfilling other important priorities and participating in leisure activities in your current life. You will eventually gain the fortune if you set up a wise investment goal by having pride and confidence on your savings."
"It's hard to exaggerate the importance of preserving the financial integrity of Social Security."
"In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems."
"Many critics of the Palestinians, especially those in Congress, think the current calm is merely the eye of the storm. That's why the House of Representatives approved a foreign aid package last week that forbade the direct financial assistance to the Palestinian Authority ."
"A penny saved is not a penny earned if at the end of the day you still owe a quarter."
Explore more quotes by Lawrence R. Klein
"My early education was in the public school system of Omaha, where, retrospectively, I realize that my high school training served me in good stead for the basic subjects of mathematics, English, foreign languages and history."
"Although I was not aware of it at the time, the experience of growing up during the Great Depression was to have a profound impact on my intellectual and professional career."
"The completion of my undergraduate training at the University of California (Berkeley) provided just the needed touches of rigor at advanced levels in both economics and mathematics."
"After my first visit to Japan, in 1960, to work on a joint model building project at Osaka University, I maintained a continuing interest in the country and the entire Far East."
"It came as a surprise to find that a professional society and journal (Econometrica) were flourishing, and I entered this area of study with great enthusiasm."
"On the way from Chicago, I spent the summer of 1947 in Ottawa, helping to build the first of a series of econometric models for the Canadian government."
"I, Lawrence Klein, was born in Omaha, Nebraska, as were my elder brother and younger sister."
"The SSRC committee turned attention from team research for building a model of the United States to doing one for world trade in order to investigate the international transmission mechanism."
"During the early 1960s, I decided to supplement research support for quantitative economic studies at Pennsylvania by selling econometric forecasts to private and public sector buyers."
"An early fascination with higher mathematics at the university level blossomed into speculative thinking that could provide a basis for dealing with economic issues."
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