A Quote by Janet Yellen
As a general principle, the American people would be well served by the active pursuit of effective policies to support longer-run growth in productivity.
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My advice would be, as you consider fiscal policies, to keep in mind and look carefully at the impact those policies are likely to have on the economy's productive capacity, on productivity growth, and to the maximum extent possible, choose policies that would improve that long-run growth and productivity outlook.
Our policies for increasing agricultural production and productivity have been scale neutral; that is, our policies are equally effective irrespective of the size of the holdings.
Most of the policies that support robust economic growth in the long run are outside the province of the central bank.
In my view, the key aim of economic policy in many countries, and particularly in Russia, should be the sort of policy that stimulates productivity growth because only on the basis of growth of labour productivity can we enjoy healthy growth.
Productivity growth, however it occurs, has a disruptive side to it. In the short term, most things that contribute to productivity growth are very painful.
Growth that adds volume without improving productivity is fat. Growth that diminishes productivity is cancer.
In the long run, greater investment would mean greater productivity and income growth.
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.
In general, an asset should be sold when it has greater value to a buyer. This happens when a buyer has a complimentary business or capability that would enable them to do more with that business. Many businesses we have exited were not failures, but had simply reached a point in their life cycle where they no longer provided a core capability or served as a platform for growth.
There are many issues in the global economy in general and in the western economy as well: population ageing, drop in labour productivity growth rates. This is obvious. The overall demographic situation is very complicated.
I've had opportunities before to run for office - the Republicans recruited me when I was surgeon general, to run for Congress, to run against Gov. Napolitano. But I didn't feel it was my calling... I felt, 'Well, I'm flattered, but I really would rather stay and be the doctor of the nation and stay as surgeon general.'
If you look at Citadel today, that's really - the founding principle of the firm is a real pursuit of talent, a pursuit of people who have a passion for finance, and a pursuit of individuals who make good decisions day in and day out.
Long ago made it a principle of my life to cultivate a positive frame of mind, to strive to project it and to share it with those I meet. It is a principle that has served me well.
The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.
By holding down natural wage growth in labor-intensive industries, immigration serves as a subsidy for low-wage, low-productivity ways of doing business, retarding technological progress and productivity growth.
We have our own internal version of Klout. We do rate people in this way - their effectiveness on social media. Tying social into a performance measurement works. The productivity of a sales who has an effective social media presence is 3x an employee who is not active on the web.
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