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"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."
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"A nation with a strong defence industry will not only be more secure. It will also reap rich economic benefits - it can boost investment, expand manufacturing, support enterprise, raise the technology level and increase economic growth in the country."
"Civilization transformed man from a food gatherer to a gatherer of pieces of paper: diplomas, employment contracts, money, etc."
"Employment is the biggest form of slavery."
"Our "Make in India" initiative is not intended for only manufacturing for the domestic market or import substitution. It is as much about making world-class products and services for the whole globe."
"India's economic success is the hard-won result of prudence, sound policy and effective management."
"As the U.S. businesses search for new areas of economic growth, markets for their goods, a pool of skilled resources, and global locations to produce and manufacture, India could be their ideal partner. India's strong economy, and growth rate of 7.6% per annum, is creating new opportunities for our mutual prosperity."
"CAPITALISM: If everything worked without need of repair, upgrade or replacement, then peaceful minds and prosperity would prevail among the masses rather than just the few who control markets."
"Capitalism without Bankruptcy is like Catholicism without Hell."
"My claim is that we do not have a market economy, but a capitalist economy."
Explore more quotes by Martin Feldstein
"Inflation is lower and more stable and the real business cycle fluctuations are more modest."
"Although economists have studied the sensitivity of import and export volumes to changes in the exchange rate, there is still much uncertainty about just how much the dollar must change to bring about any given reduction in our trade deficit."
"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."
"An increase in the relative price of products from the low wage manufacturers in Asia and Latin America will also make those products less attractive to American consumers."
"But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries."
"We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain from reduced inflation."
"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."
"Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly."
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