And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets. – Martin Feldstein
First, I think the science of monetary economics has clearly gotten better. – Martin Feldstein
A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output. – Martin Feldstein
A second reason why science cannot replace judgement is the behavior of financial markets. – Martin Feldstein
In the past, missionaries have traveled to far countries with the message of the gospel – with great hardship and often with the loss of life. In contrast, we can reach millions instantly from the comfort of our homes by merely hitting the send button on our computers, or with iPads, or phones. – Ray Comfort