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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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"Since we took office, inflation, the fiscal deficit and the balance of payments current account deficit have all fallen. GDP growth, foreign exchange reserves, stock market valuations, and investor confidence have all increased. This success is the result of a series of well thought out policies."
"Economic growth cannot only be restricted to a few cities and a few citizens. Development has to be all-round and all-inclusive."
"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."
"Because of the power that we have given money: The government would rather have taxpayers who do not vote, than voters who do not pay tax."
"Not every single broke and unemployed person needs a job, some need customers."
"A reputation for money is almost as negotiable as money itself."
"Capitalism is the most powerful tool for positive social change."
"Market economy favors the have against the have not."
"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."
"In two years, we have managed to overcome the odds and register an impressive economic performance."
Explore more quotes by Martin Feldstein
"A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output."
"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."
"Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work."
"Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today."
"Inflation is lower and more stable and the real business cycle fluctuations are more modest."
"After all, an overvalued dollar gives us the ability to buy foreign goods at lower prices. And the existing volume of exports brings more yen and euros than they would if the dollar were more competitive."
"To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world."
"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."
"So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls."
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