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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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"Maoris now own over half the commercial fishing industry in New Zealand."
"Every month that we do not have an economic recovery package 500 million Americans lose their jobs."
"Cities are, first of all, seats of the highest economic division of labor."
"When certain branches of the economy become obsolete, as in the case of the steel industry, not only do jobs disappear, which is obviously a terrible social hardship, but certain cultures also disappear."
"Telephones are a virtual necessity - not a luxury - and the revenues collected by this tax flow into the general fund. But this once temporary tax remains and costs American taxpayers, our small businesses and families almost $6 billion dollars a year."
"Privatization of the state-owned economy is not yet on the agenda. We cannot do it immediately; my colleagues would not agree to it. But we must put all forms of ownership on an equal footing immediately and let different types of ownership compete with the state firms."
"Furthermore, the unearned increment from land appears in the United States as a gain to the first comers, who have here laid the foundations of a new State."
"A strong economy begins with a strong, well-educated workforce."
"The United States dollar took another pounding on German, French and British exchanges this morning, hitting the lowest point ever known in West Germany."
Explore more quotes by Martin Feldstein
"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."
"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."
"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."
"I think that over the last few decades, we have seen better economic outcomes than in the past."
"Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like."
"In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth."
"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."
"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."
"But the primary reason for wanting the dollar to become more competitive in the near future is that we may need an increase in exports this year and in 2007 to sustain the economy's current pace of expansion."
"Inflation is lower and more stable and the real business cycle fluctuations are more modest."
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