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
To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world. – Martin Feldstein
The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit. – Martin Feldstein
Baseball, to me, is still the national pastime because it is a summer game. I feel that almost all Americans are summer people, that summer is what they think of when they think of their childhood. I think it stirs up an incredible emotion within people. – Steve Busby, in Washington Post, 8 July 1974