A Quote by Ben Bernanke
Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.
Related Quotes
Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.
Every time my cameras go out on a movie, we learn something new and then we take what we learn and we put it into the next generation of the cameras so we're constantly improving. It's kind of like building a race car, racing it, then running back to the shop and working on the engine some more and tinkering with it to improve it.
If you look at the offense like a fancy car, the offensive line is the engine. Even though we might have nice spinners and nice rims and tinted windows and some neat paint job, it doesn't mean crap without the engine. If the engine's not working, the car might look like a pretty nice car, but it's a piece of crap.
It really comes down to parsimony, economy of explanation. It is possible that your car engine is driven by psychokinetic energy, but if it looks like a petrol engine, smells like a petrol engine and performs exactly as well as a petrol engine, the sensible working hypothesis is that it is a petrol engine.
Today there are two points where a car manufacturer has interaction with you as an owner of a car. One, you buy the car. Two, you go to the car shop to repair the car.
The very name of my subject, economics, suggests economizing or maximizing. But Political Economy has gone a long way beyond home economics.
Did you take Joyce's engine?' 'My instructions were to disable the car, but one of the men bet Hal a burger he couldn't get the engine out. So Hal removed the engine.
I find it very difficult to relate to India's new middle class. This very patriotic and neoliberal group that mixes religion and economics together. I find them very irksome. Very difficult to like. They are privileged, but they don't want to talk about their privilege. It's difficult to find poetry amongst these people. Some sort of hidden spirit of beauty.
When you got mechanisms in a car that prevent damage from happening to the engine and that operate under very specific circumstances, those things are exceptions under normal operating conditions of the car; under the rules, they need to be disclosed.
I just got a car, and I gotta say, this car is very cryptic. The very first day I drove it, a light came on out of nowhere: 'Check engine.' Could they be any more vague? What if a light came on and said, 'Problem'?
If you have a car and you win a race, you cannot just settle for that. You must try and make the car better. We're a good car but you always want a bigger engine.
Colleges don't teach economics properly. Unfortunately we learn little from the experience of the past. An economist must know, besides his subject, ethics, logic, philosophy, the humanities and sociology, in fact everything that is part of how we live and react to one another.
When I was at BMW and Aston Martin, I realized how difficult and how many resources it takes to create a car - let alone a car company.
Religion is a way to make order from chaos, and I think economics is not dissimilar. In religion and in economics, you're trying to figure out the way we perceive the world and move through it, and that's what I like to learn.
I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.
Old cars have things to say. With an old car, you have to be extra observant about everything. You have to listen and pay attention - to how the engine sounds, where the oil levels are at, if it's running hot, all of that. You've gotta be tuned in, and I like that. New cars, to me they just feel like plain sheets of metal.
Related Authors
Andrew Yang Quotes
American
Public Servant
David Frum Quotes
American
Public Servant
Elizabeth Warren Quotes
American
Public Servant
Henry Paulson Quotes
American
Public Servant
James Comey Quotes
American
Public Servant
Janet Reno Quotes
American
Public Servant
Janet Yellen Quotes
American
Public Servant
Karren Brady Quotes
British
Public Servant
Michael Hayden Quotes
American
Public Servant
Mohammed Saeed al-Sahaf Quotes
Iraqi
Public Servant
Paula White Quotes
American
Public Servant
Samantha Power Quotes
Irish
Public Servant
Scott Gottlieb Quotes
American
Public Servant
Steve Bannon Quotes
American
Public Servant
Vivek Murthy Quotes
American
Public Servant
Wendy Kopp Quotes
American
Public Servant