Economics is a highly sophisticated field of thought that i… - Ben Bernanke

" "
Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much. However, careful economic analysis does have one important benefit, which is that it can help kill ideas that are completely logically inconsistent or wildly at variance with the data. This insight covers at least 90 percent of proposed economic policies.

Ben Bernanke

Sources available for members. Sign up free to see where this quote comes from

English

Collect this quote

About Ben Bernanke

Ben Shalom Bernanke (born December 13, 1953) is an American economist at the Brookings Institution who served two terms as chairman of the Federal Reserve, the central bank of the United States from 2006 to 2014. During his tenure as chairman, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis. Before becoming Federal Reserve chairman, Bernanke was a tenured professor at Princeton University and chaired the department of economics there from 1996 to September 2002, when he went on public service leave.

Also Known As

Native Name: Benjamin Shalom Bernanke

Alternative Names: Ben Shalom Bernanke • Benjamin Bernanke

All quotes from Ben Bernanke Similar Quotes by other Originators

Originators like Ben Bernanke:

Paul Krugman Lawrence Klein Robert Rubin Peter Schiff Janet Yellen

Additional quotes by Ben Bernanke

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.

To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past wer… - Ben Bernanke

About Ben Bernanke

Also Known As

Additional quotes by Ben Bernanke