A Quote by Mario Monti
What will growth policy have to look like in a fiscally compacted Europe? Clearly any illusion of budget stimulated growth policy will have to go away.
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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.
But one must say clearly that we redistribute de facto the world's wealth by climate policy...One has to free oneself from the illusion that international climate policy is environmental policy any more.
First of all, developed countries have basically expropriated the atmosphere of the world community. But one must say clearly that we redistribute de facto the world's wealth by climate policy. Obviously, the owners of coal and oil will not be enthusiastic about this. One has to free oneself from the illusion that international climate policy is environmental policy. This has almost nothing to do with environmental policy anymore.
I predict 2016 will be a year of upheaval and realignment across the world. China's economy will continue to sputter. Commodity exporting countries will suffer. Europe's growth will remain flat-lined. The U.S. will plug along at under 3% growth.
On economic policy, Pence has held to the key building block of growth. He is a budget hawk who voted against President George W. Bush's fiscally bloated No Child Left Behind education bill and hyper-expensive Medicare prescription-drug bill. He said he would not support new middle-class entitlements. He was consistent.
We need to have a pro-growth policy put in place that offers people hope and offers the opportunity for businesses to expand and for them to have confidence in what the world is going to look like for the next two or three or four years with respect to economic policy.
In Europe there's an dangerous growth of ultra xenophobia which is pretty threatening to any one who remembers the history of Europe... and an attack on the remnants of the welfare state. It's hard to interpret the austerity-in-the-midst-of-recession policy as anything other than attack on the social contract.
Our new pro-growth tax policy will be like a shot of adrenaline into the heart of the Kansas economy.
Fiscal policy, monetary policy, they need to work together to try and raise the level of 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.
Inflation is certainly low and stable and, measured in unemployment and labour-market slack, the economy has made a lot of progress. The pace of growth is disappointingly slow, mostly because productivity growth has been very slow, which is not really something amenable to monetary policy. It comes from changes in technology, changes in worker skills and a variety of other things, but not monetary policy, in particular.
What you do on immigration policy, what you do on education policy, what you do on tax, regulatory, and energy policy, all connects together - and will be based on a simple determination about what will make life better in America for American citizens.
When there's downward pressure on growth, one choice is to adjust economic policy, increase deficits, relax monetary policy. That might have a short-term benefit, but may not be beneficial for the future.
Growth, growth, growth -- that's all we've known . . . World automobile production is doubling every 10 years; human population growth is like nothing that has happened in all of geologic history. The world will only tolerate so many doublings of anything -- whether it's power plants or grasshoppers.
Capitalism with near-full employment was an impressive spectacle. But a growth in wealth is not at all the same thing as reducing poverty. A universal paean was raised in praise of growth. Growth was going to solve all problems. No need to bother about poverty. Growth will lift up the bottom and poverty will disappear without any need to pay attention to it. The economists, who should have known better, fell in with the same cry.
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.
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