First, I think the science of monetary economics has clearly gotten better. – Martin Feldstein
A second reason why science cannot replace judgement is the behavior of financial markets. – Martin Feldstein
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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
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But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries. – Martin Feldstein
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A permanent base on Mars would have a number of advantages beyond being a bonanza for planetary science and geology. If, as some evidence suggests, exotic micro-organisms have arisen independently of terrestrial life, studying them could revolutionise biology, medicine and biotechnology. – Paul Davies
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The FHAs success provides strong evidence that government can and should play a role in the nations mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it. – Mark Zandi
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