Phrase by 'Martin Feldstein'
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Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.
Author: Martin Feldstein - American EconomistToday , High , Price , Inflation
We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain from reduced inflation.
Author: Martin Feldstein - American EconomistDown , Price , Permanent , Temporary
We are particularly poor at the open economy issues.
Author: Martin Feldstein - American EconomistPoor , Open , Economy , Issues
A second reason why science cannot replace judgement is the behavior of financial markets.
Author: Martin Feldstein - American EconomistScience , Why , Behavior , Reason
First, I think the science of monetary economics has clearly gotten better.
Author: Martin Feldstein - American EconomistScience , Think , Better , Economics
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.
Author: Martin Feldstein - American EconomistFeel , Science , Good , Art
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