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Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.
Earth is abundant with plentiful resources. Our practice of rationing resources through monetary control is no longer relevant and is counter-productive to our survival.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
I'm still a hacker. I get paid for it now. I never received any monetary gain from the hacking I did before. The main difference in what I do now compared to what I did then is that I now do it with authorization.
Giving Northern Europe a veto over Southern Europe's budgets will not hold a monetary union together. The euro zone will continue to need the weaker countries to stomach decades of high unemployment to grind down wages.
Monetary policy itself cannot sensibly be directed at reducing imbalances.
Domestic inflation reflects domestic monetary policy.
Monetary success is not success. Career success is not success. Life, someone that loves you, giving to others, doing something that makes you feel complete and full. That is success. And it isn't dependent on anyone else.
In our time, the curse is monetary illiteracy, just as inability to read plain print was the curse of earlier centuries.
I find that many entrepreneurs are trying to do everything when it would be cheaper and more time-efficient to delegate, even if there are monetary costs associated with that.
The fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols... Very happy. Very good for the Fed. Congratulations, Mr. Bernanke.
My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation.
It is understandable that the Fed injects cash to avoid the collapse of the stock market, but basically it is bad policy for monetary authorities to intervene to save speculators from bankruptcy. This is not their role.
I don't think anyone sets out to malign poor people but certainly that's what we do through organizations such as the World Trade Organization, the World Bank and the International Monetary Fund.
Monetary policy is not a panacea.
The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians.
A lot of joblessness in the black community doesn't seem to be reachable through fiscal and monetary policies. People have not been drawn into the labor market even during periods of economic recovery.
William Julius Wilson
Economics should be defined in terms of what it is about. It should be about how people produce things, how people exchange them, how people earn income, how they pay taxes, how the government provides infrastructure with tax revenue, and how it conducts monetary policy. The subject has to be defined in terms of the object of inquiry.
Nicaragua is a World Bank and International Monetary Fund designated 'heavily indebted poor country,' with little legal ability to control its economic future: Everything is for sale. And once Nicaraguans decide to cash in and sell their houses or farms, they have to look far inland for anything affordable.
Of course I've already taken a very modest position on the monetary system, I do take the position that we should just end the Fed.
During the last campaign I knew what was happening. You know, they mocked me for my foreign policy and they laughed at my monetary policy. No more. No more.
The world's central banks and the International Monetary Fund still have vaults full of bullion, even though currencies are no longer backed by gold. Governments hold on to it as a kind of magic symbol, a way of reassuring people that their money is real.
Conservatives believe that international institutions such as the United Nations are anti-American and anti-Israeli cabals. Progressives do not like the economic medicine that the International Monetary Fund (IMF) and World Bank force down the throats of developing countries.
The more I travel around the world, the more I see people want the same thing - to be happy. We wouldn't be in a monetary system if we didn't have to work, so if my music can contribute to happiness, then that's my main responsibility.
Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal policies that can strain a joint currency.
So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls.
A. P. J. Abdul Kalam
Martin Luther King, Jr.
Leonardo da Vinci
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True happiness comes from the joy of deeds well done, the zest of creating things new.
Antoine de Saint-Exupery
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