Economic Stabilization Quotes

Democracy will not come to Mexico as the result of supposedly optimal policies prescribed by self-appointed saviors bent on economic stabilization.

I've never seen people as physically distraught as the Bush administration team was because of what was happening to the economy. I personally believe that the steps that President Obama took saved the economy. He doesn't get the credit he deserves for taking some very hard positions. But it was a terrible recession. So now we've dug ourselves out of it, we're standing, but we're not yet running.

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.

So now we are pushing economic reform, bank reform and enterprise reform. So we can finish that reform this year, in September or October. Then our economy may be much more, you know, normalized.

Furthermore, we believe that health care reform, again I said at the beginning of my remarks, that we sent the three pillars that the President's economic stabilization and job creation initiatives were education and innovation - innovation begins in the classroom - clean energy and climate, addressing the climate issues in an innovative way to keep us number one and competitive in the world with the new technology, and the third, first among equals I may say, is health care, health insurance reform.

It is a set of policies formulated between 15th and 19th streets by the U.S. Treasury, and World Bank. Countries should focus on stabilization, liberalization, privatization.

I believe that with the help of foreign countries - and under that condition only, because they have no other source of financing - the new government may temporarily extricate Georgia from the current situation.

Beyond monetary policy, fiscal policy has traditionally played an important role in dealing with severe economic downturns.

The government cannot become a bailout organization for companies on the verge of bankruptcy.

The question is not really about a shift to the economic cone where officers are writing about the balance of payments and the need for economic stabilization.

The potential gains from improved stabilization policies are on the order of hundredths of a percent of consumption, perhaps two orders of magnitude smaller than the potential benefits of available supply-side fiscal reforms.

Keep in mind that, when I came in, we had had a crisis that was the worst we've seen since the 1930s, and working with people like Chancellor Merkel, working with the G-20 and other institutions internationally, we were able to stabilize the financial system, stabilize the US economy and return to growth.

When you're facing the threat of recession, you need to have an expansionary monetary and fiscal policy. Pre-Keynesian, Hooverite views are dead everywhere except on 19th Street in Washington.

There is a much cheaper way, less complicated way to bring Iraq and Saddam Hussein to its knees: it is simply to send the Bush economic team over there and let them run the country.

Government bailouts are like potato chips: You can't stop with just one.

The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.

We must not forget that … monetary policy all over the world has followed the advice of the stabilizers. It is high time that their influence, which has already done harm enough, should be overthrown.

I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.

I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp.

Solidarity is the fundamental idea of European cooperation. If a country feels itself to be militarily threatened and calls for soldiers, weapons and sanctions, then that's what it gets. When governments say they need money from the structural funds to stabilize their economy, that's what they get. But you can't cherry pick solidarity.

Keynes was chief economic adviser to the British government and largely responsible for keeping the British economy afloat at a time when more than half of our gross national product, and all of our foreign exchange, was being spent on the war. I was lucky to be present at one of his rare appearances in Cambridge, when he gave a lecture with the title "Newton, the Man." Four years later he died of heart failure, precipitated by overwork and the hardships of crossing the Atlantic repeatedly in slow propeller-driven airplanes under wartime conditions.

The theory of economic shock therapy relies in part on the roleof expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages.

Broadly speaking, Keynesianism means that the government has a specific responsibility for the behavior of the economy, that it doesn't work on its own autonomous course, but the government, when there's a recession, compensates by employment, by expansion of purchasing power, and in boom times corrects by being a restraining force. But it controls the great flow of demand into the economy, what since Keynesian times has been the flow of aggregate demand. That was the basic idea of Keynes so far as one can put it in a couple of sentences.