Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Monday, November 12, 2007

The whole point with science

The issue of how confident we are in the [...] answer is a subtle one which cannot be resolved by computing some measure of how well the model mimics historical data. The degree of confidence in the answer depends on the confidence that is placed in the economic theory being used.
-- Kydland and Prescott, 1991 AD

Every downwards movement of a body made of gold or lead, or any other material, is faster inasmuch the body is larger.
-- Aristotle, 300 BC

Tuesday, October 23, 2007

Inflation

Inflation is always and everywhere a monetary phenomenon.
-- Milton Friedman

Sunday, October 7, 2007

Taxes

Le tasse sono una cosa bellissima.
Taxes are a most beautiful thing.
-- Padoa-Schioppa, Italian Minister of the Economy.

Monday, September 24, 2007

The End of the Rainbow

The International Monetary Fund is a non-profit organization. Who would need a profit when you are sitting on top of 3,217 tonnes of gold?

Sunday, September 23, 2007

Cost-Benefit Analysis

Paris vaut bien une messe.
Paris is well worth a mass.
-- Henri IV