Monetary And Fiscal Policy Quotes

The basic prescription for preventing deflation is straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending, in a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place. ~ Ben Bernanke

I am conservative with a small 'c.' It's possible to be conservative in fiscal policy, and tolerant on moral issues or questions of freedom of expression. ~ Mick Jagger

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

The way forward is for governments to consciously pursue monetary and fiscal stability through setting clear objectives, establishing proper rules, and requiring openness and transparency - the new rules of the game. ~ Gordon Brown

This nation is on a course where if we don't do something about it, get federal situation, the fiscal policy [under control], we're Greece. We're a banana republic. Our status as a nation is threatened by what we've got coming at us in the area of deficit and debt. And it's only a few more years, at the most, that we have to work with here before the market says, 'Sorry, your currency is something we can not continue to defend.' ~ Judd Gregg

Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity. ~ Alan Greenspan

Democracy cannot exist as a permanent form of government. It can only exist until the voters discover they can vote themselves largesse out of the public treasure. From that moment on, the majority always votes for the candidate promising the most benefit from the public treasury, with the result that democracy always collapses over a loose fiscal policy, always to be followed by a dictatorship, and then a monarchy. ~ Alexander Fraser Tytler

Governments cannot assume or expect that the ECB will always facilitate their funding independently of the achievement of their fiscal and other policy objectives. ~ Lucas Papademos

Political union means transferring the prerogatives of national legislatures to the European parliament, which would then decide how to structure Europe's fiscal, banking, and monetary union. ~ Barry Eichengreen

We've got to be explicit that the road to greater economic success does not lie in this cosy assumption that you can move from a single market through a single currency to harmonising all your taxes and then having a federal fiscal policy and then effectively having a federal State. ~ Gordon Brown

The growing policy-reform movement is a broad church. It includes everyone from ganja-smoking Rastafarians to free-market fundamentalists and all in between. There are socialists who think the drug war hurts the poor, capitalists who see a business opportunity, liberals who defend the right to choose, and fiscal conservatives who complain America is spending $40 billion a year on the War on Drugs rather than making a few billion taxing it. The movement can't agree on much other than that the present policy doesn't work. People disagree on whether legalized drugs should be controlled by the state, by corporations, by small businessmen, or by grow-your-own farmers, and on whether they should be advertised, taxed, or just handed out free in white boxes to addicts. ~ Ioan Grillo

Thank you. Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich. [ ... ]
"But we have also," continued the management consultant, "run into a small inflation problem on account of the high level of leaf availability, which means that, I gather, the current going rate has something like three deciduous forests buying on ship's peanut." [ ... ]
"So in order to obviate this problem," he continued, "and effectively revalue the leaf, we are about to embark on a massive defoliation campaign, and ... er, burn down all the forests. I think you'll all agree that's a sensible move under the circumstances. ~ Douglas Adams

Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks. ~ Alan Greenspan

Lord, the money we do spend on Government and it's not one bit better than the government we got for one-third the money twenty years ago. ~ Will Rogers

I can't remember the exact quote but when I used to trade and Mr. Volcker was Fed chairman, he said something like 'gold is my enemy, I'm always watching what gold is doing', we need to think why he made a statement like that. If you're a central banker or one of the congressmen or senators, watch what gold is doing because this is a no-confidence vote in fiscal and dollar policy. ~ Rick Santelli

At the federal level, the fiscal stimulus of 2008 and 2009 supported economic output, but the effects of that stimulus faded; by 2011, federal fiscal policy actions became a drag on output growth when the recovery was still weak. ~ Janet Yellen

[T]he next time you hear serious-sounding people explaining the need for fiscal austerity, try to parse their argument. Almost surely, you'll discover that what sounds like hardheaded realism actually rests on a foundation of fantasy, on the belief that invisible vigilantes will punish us if we're bad and the confidence fairy will reward us if we're good. And real-world policy - policy that will blight the lives of millions of working families - is being built on that foundation. ~ Paul Krugman

The gold standard had its advantages, no doubt. Exchange rate stability made for predictable pricing in trade and reduced transaction costs, while the long-run stability of prices acted as an anchor for inflation expectations. Being on gold may also have reduced the costs of borrowing by committing governments to pursue prudent fiscal and monetary policies. ~ Niall Ferguson

All of the government's monetary, economic and political power, as well as its extensive propaganda machinery, will be enlisted in a constant battle to drive down the price of gold - but in the absence of any fundamental change in the nation's monetary, fiscal, and economic direction, simply regard any major retreat in the price of gold as an unexpected buying opportunity. ~ Irwin Schiff

There is a big divergence between views on a variety of policy issues from fiscal stimulus to financial regulation. It's my hope and my ambition for the economics profession that as we advance our knowledge, that those discussions will narrow in their focus, and that it will help to have more prudent policy-making down the road. ~ Lars Peter Hansen

If," ["the management consultant"] said tersely, "we could for a moment move on to the subject of fiscal policy. . ."
"Fiscal policy!" whooped Ford Prefect. "Fiscal policy!"
The management consultant gave him a look that only a lungfish could have copied.
"Fiscal policy. . ." he repeated, "that is what I said."
"How can you have money," demanded Ford, "if none of you actually produces anything? It doesn't grow on trees you know."
"If you would allow me to continue.. ."
Ford nodded dejectedly.
"Thank you. Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich."
Ford stared in disbelief at the crowd who were murmuring appreciatively at this and greedily fingering the wads of leaves with which their track suits were stuffed.
"But we have also," continued the management consultant, "run into a small inflation problem on account of the high level of leaf availability, which means that, I gather, the current going rate has something like three deciduous forests buying one ship's peanut."
Murmurs of alarm came from the crowd. The management consultant waved them down.
"So in order to obviate this problem," he continued, "and effectively revalue the leaf, we are about to embark on a massive defoliation campaign, and. . .er, burn down all the forests. I think you'll all agree that's a sensible move under the circumstances."
The crowd seemed a little uncertain about th ~ Douglas Adams

Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference. ~ James Surowiecki

In short, Mr. Ryan's plan is devoid of credible math or hard policy choices. And it couldn't pass even if Republicans were to take the presidency and both houses of Congress. Mr. Romney and Mr. Ryan have no plan to take on Wall Street, the Fed, the military-industrial complex, social insurance or the nation's fiscal calamity and no plan to revive capitalist prosperity - just empty sermons. ~ David Stockman

Taxation of earnings from labor is on a par with forced labor. Seizing the results of someone's labor is equivalent to seizing hours from him and directing him to carry on various activities. ~ Robert Nozick

Which brings me to the point: In order to lose momentum, the U.S. economy has to have momentum to begin with. If it had any, I missed it. What we had was a government-prescribed course of amphetamines (to keep it up), antibiotics (to prevent infection) and antidepressants (to make it feel better). It endured regular steroid injections from both monetary and fiscal authorities. And it still has no real muscle. ~ Caroline Baum

Money values do not simply mirror the state of affairs in the real world; valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion; that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit. ~ George Soros

Poland is one of the few countries that can afford to conduct a conventional monetary policy and that means we have to act against the buildup of imbalances in the economy. ~ Marek Belka

As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past. ~ Timothy Geithner

In recent years personal injury attorneys and trial lawyers have attacked the food industry with numerous lawsuits alleging that these businesses should pay monetary damages to those who, of their own accord, consume too much of a legal, safe product. ~ Bob Ney

Overall, the cost to the Forest Service to prepare and administer the timer sales, to oversee the construction of the roads, to mitigate (in usually small ineffective ways) the damage to the landscape far outweighs any fiscal return. ~ Christopher Ketcham

Reagonomics - a blend of monetarism and fiscal Keynesianism swathed in classical liberal and supply-side rhetoric - is in no way going to solve the problem of inflationary depression or of the business cycle. ~ Murray Rothbard

The U.S. have printed money; they intend to tax the rich in order to avoid the fiscal cliff. These are things that sees anyone who dares to propose them in Greece and Europe labeled an extremist, when at the same time, it's what Obama does. ~ Alexis Tsipras

A good monetary policy follows inflationary expectations and not historical numbers. ~ Adi Godrej

For most people, wages are the most important source of income. Macroeconomic and monetary policies that result in higher unemployment - and lower wages for ordinary citizens - are a major source of inequality in our society today. Over the past quarter century macroeconomic and monetary policies and institutions have failed to produce stability; they failed to produce sustainable growth; and, most importantly, they failed to produce growth that benefited most citizens in our society. In ~ Joseph E. Stiglitz

The United States is now a bloated military empire on the cusp of steady and irrevocable economic decline. Historically, the danger in such cases is that when the fiscal stability of the empire begins to weaken, the governing elites double down on the very policies of military profligacy that caused the fiscal crisis in the first place. And that appears to be what the people who run America would like to do. This ~ Mike Lofgren

Instead of wasting his time in Frankfurt and Tokyo, the finance minster should focus on Indian housewives and help them balance their budgets by reducing inflation and the fiscal deficit. Unfortunately, our housewives do not have access to the Nashik note printing press like our FM. The solution to India's problems lie inside, not in wooing FII and FDI inflows. ~ R. Vaidyanathan

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. ~ Ha-Joon Chang

Now, McDonald's is a very good indicator of the global economy. If McDonald's doesn't increase its sales, it tells you that the monetary policies have largely failed in the sense that prices are going up more than disposable income, and so people have less purchasing power. ~ Marc Faber

Nigeria, with the oil sector, had the reputation of being corrupt and not managing its own public finances well. So what did we try to do? We introduced a fiscal rule that de-linked our budget from the oil price. ~ Ngozi Okonjo-Iweala

I don't like gross monetary inequities. I firmly believe that the wrong people and the wrong professions are being rewarded, and rewarded absurdly, and that the hardest work the obscenely rich do is ensuring that they preserve their privileges, status symbols, and bloated bank accounts. ~ Michael Dirda

When contemplating a shield that would protect America for incoming missiles, Democrats suddenly became hardheaded fiscal conservatives. For the first time in recorded history, liberals were concerned about the cost and usefulness of a government program. These people believe federally funded art therapy for the homeless will pay for itself. That you can take to the bank. But a shield to repel incoming nuclear missiles from American soil they said, was too expensive and wouldn't work. ~ Ann Coulter

Funnily enough, the Federal Reserve produced comics about monetary policy, and there is a good comic book guide to microeconomics and macroeconomics out there. But it is not really appropriate for younger readers; it is really aimed at economics students. ~ Tim Harford

Washington's answer to a self-inflicted financial crisis reminded Americans why they so deeply distrust the political class. The 'fiscal cliff' process was secretive and sloppy, and the nation's so-called leadership lacked the political courage to address our root problems: joblessness and debt. ~ Ron Fournier

A lot of people would enter restricted sites just to say they can, and then log out. Today, everything related to hacking seems to be for monetary gain. ~ Michael Demon Calce

John Kerry's newfound interest in fiscal discipline is a political gimmick that defies his 20-year record in the Senate and stands in stark contrast to his reckless and expansive promises of new government spending on the campaign trail. ~ Steve Schmidt

Stockholders are used to a certain kind of global capitalism. This version is very hard on the environment and very hard on people below a certain fiscal level. It is a calculated, systematic weakening of people. Many labour, a few benefit. Try talking about cleaning up the place with these people. The hostility is incredible. ~ Henry Rollins

Real cybersecurity means that your Security Operations team is consistently pen testing your network with the same stealth and sophistication as the Russian nation state, the same desperation as China's 13th Five Year Plan, the same inexhaustible energy of the Cyber Caliphate and the same greed and ambition for monetary payoff as a seasoned cyber-criminal gang. ~ James Scott, Senior Fellow, Institute For Critical Infrastructure Technology