A Quote by Christina Romer
The goal of long-run economic growth without asset price bubbles is not only achievable, but is something we should expect if we put a sound regulatory framework in place and if policymakers remain vigilant.
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Growth works. What we're doing in the administration to spur growth in terms of regulatory form work. And what we're working is to make sure that those tax cuts add to that. We do believe that sustained 3 percent economic growth is possible and that that is the way you can balance the budget long-term.
Fundamentally, the solution to economic insecurity is economic prosperity - an achievable goal. But for anyone who has grown up without financial security, there's a shadow that lies over even those who move towards independence: lack of financial literacy.
You need in the long run for stability, for economic growth, for jobs, as well as for financial stability, global economic institutions that make sure that growth to be sustained has to be shared, and are built on the principle that the prosperity of this world is indivisible.
You cannot have an asset that goes up in price 1% every month or 1% every six months or every day without people starting to start thinking it'll do the same tomorrow, so that's why these bubbles form.
Inflation is not only unnecessary for economic growth. As long as it exists it is the enemy of economic growth.
Long-term economic growth depends mainly on nonmonetary factors such as population growth and workforce participation, the skills and aptitudes of our workforce, the tools at their disposal, and the pace of technological advance. Fiscal and regulatory policies can have important effects on these factors.
Without the heart to ground it and open it to who we really can be as human beings, the brain is a very dangerous machine. A machine that is saying: we've got to have economic growth; we've got to have unending economic growth, otherwise societies will collapse. And yet there should be something saying: wait a minute, this isn't going to work.
The staff at the Institute will present an analysis on how asset price fluctuations and subsequent structural adjustments influence sustained economic growth, based on Japan's experience since the second half of the 1980s.
It is your mind that matters economically, as much or more than your mouth or hands. In the long run, the most important economic effect of population size and growth is the contribution of additional people to our stock of useful knowledge. And this contribution is large enough in the long run to overcome all the costs of population growth.
Of all the things that can have an effect on your future, I believe personal growth is the greatest. We can talk about sales growth, profit growth, asset growth, but all of this probably will not happen without personal growth.
The goal of what Japan's central bank is doing is to create growth. If it actually creates growth, in the long run, it will lead to appreciation.
While monetary policy can contribute to growth by supporting a durable expansion in a context of price stability, it cannot reliably affect the long-run sustainable level of the economy's growth.
The development of a political-economic framework to explore long-run institutional change occupied me during all of the 1980s and led to the publication of Institutions, Institutional Change and Economic Performance in 1990.
Liberty is more precious than money or office; and we should be vigilant lest we purchase wealth or place at the price of inner freedom.
We need economic growth, yes, but growth can be jobless, so a sustainable development framework for employment must include a job creation strategy.
We've got to make sure that we rebuild the infrastructure in America, because we used to be - have the best bridges, the best roads, the best airports. And now, when you go to China or you go to Europe, you see that they are outstripping us in terms of infrastructure. And if we put people back to work, that would be good not only in the short term, but it would also lay the foundation, the framework for long-term economic and job growth.
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