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"But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988."
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"And so our goal on health care is, if we can get, instead of health care costs going up 6 percent a year, it's going up at the level of inflation, maybe just slightly above inflation, we've made huge progress. And by the way, that is the single most important thing we could do in terms of reducing our deficit. That's why we did it."
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Personal Development
"Major policy reform in the petroleum sector. Under the new Hydrocarbon Exploration Licensing Policy, there will be pricing and marketing freedom and a transparent revenue-sharing methodology. This will eliminate many layers of bureaucratic controls."
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Personal Development
"The world economy would collapse if a significant number of people were to realize and then act on the realization that it is possible to enjoy many if not most of the things that they enjoy without first having to own them."
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Personal Development
"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."
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Personal Development
"If the farmer is rich, then so is the nation."
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Personal Development
"India is undergoing profound transformations. We are today the fastest growing economy in the world. We want the Indian economy to be driven by smart and sustainable cities, robust farm sector, vibrant manufacturing and dynamic service sector. And, its engines to run on world class network of rails, roads, airports and digital connectivity."
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Personal Development
"Thrift is poetic because it is creative, waste is unpoetic because it is waste."
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Personal Development
"India is one of the world economy's brightest spots. We have low inflation, a low balance of payments current account deficit, and a high rate of growth. This is the result of good policy, not good fortune."
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Personal Development
"Money is representative, and follows the nature and fortunes of the owner...The farmer is covetous of his dollar, and with reason. It is no waif to him. He knows how many strokes of labor it represents. His bones ache with the days' work that earned it. He knows how much land it represents - how much rain, frost and sunshine. He knows that, in the dollar, he gives you so much discretion and patience, so much hoeing and threshing. Try to lift his dollar; you must lift all that weight. In the city, where money follows the skit of a pen or a lucky rise in exchange, it comes to be looked on as light."
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Personal Development
"Why do people look to the government to fix the economy? It's mind-boggling."
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"The more competitive value of the dollar turned around the trade deficit."
Economy
"I think that over the last few decades, we have seen better economic outcomes than in the past."
Past
"Domestic inflation reflects domestic monetary policy."
Policy
"The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit."
Finance
"And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets."
Science
"Even if the dollar does decline during the coming months, the delays in the response of exports and imports to the more competitive dollar will mean that the increase in aggregate demand from this source may not happen for a year or more."
Economy
"Inflation is lower and more stable and the real business cycle fluctuations are more modest."
Business
"First, I think the science of monetary economics has clearly gotten better."
Science
"The price of imported oil in the US doubled between summer 2003 and summer 2005, reducing consumers' purchasing power by more than 1 per cent of gross domestic product."
Power
"The good news is that a competitive dollar in the global market and a strong dollar at home are compatible in both the long run and during the transition to a more competitive dollar."
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