I think the research evidence on the benefits of early childhood programs for the local economy is extremely strong. However, the moral and political choice is still up to us, as citizens and as voters.
Thus, the questions we should ask here are what makes the current economic upswing different from the past two recoveries, and whether such differences are sufficient for the economy to reach the sustained growth path.
In fact, the recent increase in intra-firm trading enables businesses to shift their activities across borders smoothly, thereby strengthening the response of economic activity to exchange rate movements in the long run.
Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role in channeling household savings into the corporate sector and allocating investment funds among firms.
However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.
If you do have a team where every rider has a huge list of results, that means everybody wants to do the race for themselves. The strongest team in the Tour is not the strongest team on paper.
We did one pilot for FOX which was about this couple that moves to a town, and we play everyone in the entire town. So it was like a Peter Sellers film.
I am afraid that if you don't find peaceful domestic solutions to our inequality and social problems, then it's always tempting to find other people responsible for our problems.
One way to have broader access to wealth is to reduce the tax on the large group and increase the tax on the very top so concentration of wealth doesn't get to extreme levels.
You need some inequality to grow... but extreme inequality is not only useless but can be harmful to growth because it reduces mobility and can lead to political capture of our democratic institutions.
One of the biggest problems of 'In Search of Excellence' is that it focused on giant, publicly-traded companies. There are thousands upon thousands of excellent companies. Some of them are two-person accountancies in a community of three thousand peo...
I was a Valley girl; I hung out, and through a photographer friend. I met Peter Douglas, who was one of Kirk Douglas's kids. He introduced me to Sam Spiegel.
In the 1980s, there were occasions when it made sense to say, 'it is too difficult to maximize the likelihood function, and besides if we do, it will blow our model out of the water.'
It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.
The Congressional Budget Office has been embarrassed repeatedly by making projections based on the assumption that tax revenues and tax rates move in the same direction.
I refuse to go into a fast-food outlet - to use the toilet even - in case anyone got the wrong idea and thought I was sneaking in a quick burger.
The problem with me is I always think I should've done better. I felt that after the World Cup final and through my whole career.
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.
When everything is moving and shifting, the only way to counteract chaos is stillness. When things feel extraordinary, strive for ordinary. When the surface is wavy, dive deeper for quieter waters.
There is something magical about running; after a certain distance, it transcends the body. Then a bit further, it transcends the mind. A bit further yet, and what you have before you, laid bare, is the soul.
Parents are supposed to instill a sense of right and wrong in their children and then keep up the due diligence necessary to make sure they don't veer off that path.
