A Quote by Gavyn Davies
Over the last decade, - economists seemed to share a broad consensus about economic policy, with the old splits between monetarists and Keynesians apparently being settled by events. But the Great Recession of the last two years has changed everything.
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Over the last decade, economists seemed to share a broad consensus about economic policy, with the old splits between monetarists and Keynesians apparently being settled by events. But the Great Recession of the last two years has changed everything.
Lunchroom economic conversations are inevitably graced with at least one statement from an old-timer along the lines of, 'In my day, we walked 10 miles in the snow just to get to the recession.' In fact, the nature of recessions hasn't changed much over the years.
I feel that this is my first year, that next year is an election year, that the third year is the mid point, and that the fourth year is the last chance I'll have to make a record since the last two years; I'll be a candidate again. Everything I do in those last two years will be posturing for the election. But right now I don't have to do that.
Politicians and some of the scientists like to say that there's a consensus now on global warming or the science has been settled, but you have to ask them, what is there a consensus on? Because it really makes a difference. What are you talking about? The only consensus I`m aware of is that it's warmed in the last century. They completely ignore the fact that there's this thing called the Oregon petition that was signed by 19,000 professionals and scientists who don't agree with the idea that we are causing climate change.
I fell asleep at my desk many times. This was when working on events—virtually every one I’ve done in the last 5 years. I was not confronting the writing of speeches. In fact, I was not wanting to confront what I was doing at the time—being irresponsible... I am now known for falling asleep. This has happened 50 times in the last 5 years and probably 20 times at my desk in the last 2 years.
Most of the gains in the last years since the Great Recession have gone to the very top. So we are going to have the wealthy pay their fair share. We're going to have corporations make a contribution greater than they are now to America.
Economics, over the years, has become more and more abstract and divorced from events in the real world. Economists, by and large, do not study the workings of the actual economic system. They theorize about it. As Ely Devons, an English economist, once said in a meeting: 'If economists wanted to study the horse, they wouldn't go around and look at horses. They'd sit in their studies and say to themselves, `What would I do if I were a horse?' '
I have concluded that most PhD economists under appraise the power of the common-stock-based "wealth effect," under current extreme conditions... "Wealth effects" involve mathematical puzzles that are not nearly so well worked out as physics theories and never can be... What has happened in Japan over roughly the last ten years has shaken up academic economics, as it obviously should, creating strong worries about recession from "wealth effects" in reverse.
There are 11 states in the United States that in the last 50 years instituted an income tax. So I looked at each of those 11 states over the last 50 years, and I took their current economic metrics and their metrics for the five years before they put in the progressive income tax... Every single state that introduced a progressive income tax has declined as an overall share of the U.S. economy.
All the events you have experienced in your lifetime up to this moment have been created by your thoughts and beliefs you have held in the past. They were created by the thoughts and words you used yesterday, last week, last month, last year, 10, 20, 30, 40, or more years ago, depending on how old you are
All the events you have experienced in your lifetime up to this moment have been created by your thoughts and beliefs you have held in the past. They were created by the thoughts and words you used yesterday, last week, last month, last year, 10, 20, 30, 40, or more years ago, depending on how old you are.
For the last decade, the last 50 years, Barcelona dominate football matches. I love the way they play.
Over the last 10 years, India's perception has gone from being a beggar country to an economic superpower.
Western conception of history has had great consequences over the last two hundred years. You see it in the invasion of Iraq. You see it in almost everything that is said and done.
From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.
There's not an appropriations bill in the last 10 years that the-that Democrats passed in the Congress. We haven't spent any money of your taxes in the last decade.
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