Martin Feldstein Quotes

A collection of quotes by Martin Feldstein.

Martin Feldstein (1939-2019) was a renowned American economist and public servant who made significant contributions to the field of economics and public policy. He was born on November 25, 1939, in New York City.

Feldstein obtained his Bachelor's degree from Harvard College in 1961 and later received a Doctorate in Economics from Oxford University in 1967. Throughout his career, he served as a professor at Harvard University, where he taught economics for over four decades.

Feldstein played a vital role in shaping economic policy in the United States. From 1982 to 1984, he served as the Chairman of the Council of Economic Advisers under President Ronald Reagan. Feldstein was known for advocating for supply-side economics and fiscal conservatism, aiming to promote economic growth through tax cuts and reduced government spending.

Apart from his academic pursuits, Feldstein served on numerous advisory boards, including the Federal Reserve Bank of Boston and the National Bureau of Economic Research. He was also a highly regarded columnist, writing for various newspapers and publications on economic matters.

Recognized for his significant contributions to economics and public policy, Feldstein received several accolades, including the John Bates Clark Medal in 1977 and the Presidential Medal of Freedom in 2019. His research focused on various areas such as taxation, healthcare economics, and social security.

Martin Feldstein passed away on June 11, 2019, leaving behind a lasting impact on the field of economics and a legacy as an influential economist and public servant.

But because we in the United States finance our current acco

But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries.

Martin Feldstein


A second reason why science cannot replace judgement is the

A second reason why science cannot replace judgement is the behavior of financial markets.

Martin Feldstein

Science

First, I think the science of monetary economics has clearly

First, I think the science of monetary economics has clearly gotten better.

Martin Feldstein

Science

A rise in the level of saving can reduce aggregate activity

A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output.

Martin Feldstein

Business

The only way that we can reduce our financial dependence on

The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.

Martin Feldstein

Finance

To finance this trade deficit, the U.S. has to borrow from t

To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.

Martin Feldstein

Finance

And finally, no matter how good the science gets, there are

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.

Martin Feldstein

Science

Increased government spending can provide a temporary stimul

Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work.

Martin Feldstein

Government