You can lead a horse to water, but you cannot make him drink. Or monetary policy is pulling on a string when the economy is strong. That works. But w… - Lawrence Klein

" "

You can lead a horse to water, but you cannot make him drink. Or monetary policy is pulling on a string when the economy is strong. That works. But when the economy is weak and you are cutting interest rates, it can be like pushing on a string. It does not work as well.

English
Collect this quote

About Lawrence Klein

Lawrence Robert Klein (4 September 1920 – 20 October 2013) was an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics in the Department of Economics at the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980 specifically "for the creation of econometric models and their application to the analysis of economic fluctuations and economic policies." Due to his efforts, such models have become widespread among economists.

Also Known As

Native Name: Lawrence Robert Klein
Alternative Names: Lawrence R. Klein
All quotes from Lawrence Klein Similar Quotes by other Originators
Works in ChatGPT, Claude, or Any AI

Add semantic quote search to your AI assistant via MCP. One command setup.

Set Up MCP

Additional quotes by Lawrence Klein

In the past few years there has grown up a large group of young economists who have accepted the theoretical doctrines of the Keynesian Revolution and who have come into national prominence through their support of an economic policy of full employment.
Sources available for members. Sign up free to see where this quote comes from
Find Similar