economists-from-the-united-states

"Each person acts on the assumption that more money will bring more happiness; and, indeed, if he does get more money, and others do not (or get less), his happiness increases. But when everyone acts on this assumption and incomes generally increase, no one, on the average, feels better off. Yet each person goes on, generation after generation, unaware of the self-defeating process in which he is caught up."

"The post-Keynesian and institutionalist traditions have lost one of their most creative theorists and fervent supporters"

"His path led him to the conviction that the typical enterprise in 20th century capitalism is oligopolistic, with a clear separation between management and ownership."

"A relentless battler against conservative, unscientific economic orthodoxy"

"After his doctorate, the situation created by the decline of McCarthyism and the rise of the civil-rights and antiwar movements allowed Eichner and other mainstream economists to emerge as heterodox economists in the United States and even secure an academic position."

"Most of our long-held beliefs about money, wealth, productivity and efficiency, and our notions of progress are rooted in immature, often infantile states of mind—easily manipulated by politicians and advertisers...Luckily, individuals learn faster than institutions and many people may already be ahead of their leaders.""

"Economics is really politics in disguise. We need to unpack the whole thing and say, 'Look, an economy is really nothing but a set of rules. Let's be up front about it. There's no actual science here.'"

"Miss Talbot divides her book into three parts. Part I describes the changes in women's activities—industrial, educational, civic, philanthropic, domestic, and social—during the last hundred years. Part II compares the educational machinery of about fifty years ago with that of today, citing as exampels the past and the present curricula of the Boston and Chicago public schools, of , and of the , in order to show how far education has adapted itself to these changes. Part III deals with the present collegiate education of women, pointing out its characteristics, limitations, and possible modifications in the light of modern social, economic, and psychological knowledge."

"The changes which have taken place during the in the activities and position of women are the object of an interest which is widespread. These changes have been so striking that the period during which they occurred is frequently called the "woman's century." Nor is the movement a completed one; there is every reason to believe that equally marked changes will take place in the . The time has passed when women were on the whole content to drift with the current of life and accept without question or demur the lot which tradition, custom, and public opinion might dictate. The little band of leaders who did pioneer work in the last century in claiming and making new opportunities for women did brave service: in no respect did they do better service than in showing the value of ideals as a positive social force. The record of their lives will always be a source of courage to increasing numbers of women who will be eager to take an active part in controlling and directing the stream of women's activities."

"If we can recognize that change and uncertainty are basic principles, we can greet the future and the transformation we are undergoing with the understanding that we do not know enough to be pessimistic."

"... except in some of the s where the opportunities for research are limited and the salaries notably low, women are not considered eligible for chairs in the sciences ... Until women are more generally given an equal chance with men in academic recognition and remuneration, it is futile to attempt to determine, in terms of s or even of scientific reputation or eminence, how much "they are able to do for the advancement of science.""

"The important thing to realise: we don’t consider climate change to be a problem — it’s a symptom. When you have physical growth in a finite planet, pressures are going to mount to stop the growth. And climate change is one of those pressures. So it’s a symptom of our efforts to keep promoting physical growth in a finite planet. You know, ironically, if we solved climate change, if we could somehow push a magic button and eliminate greenhouse gasses... but continue with our growth, we’ll just have to see bigger pressures in other sectors. Then water scarcity, or epidemics, or warfare or some other pressure will have to become even more powerful, because finally the pressures against growth have to equal the pressures in favour of growth. And only when they’re equal, growth will stop."

"Milton] felt you could influence the political sphere. So he wrote a lot about politics--of course--and public policy. Not politics--public policy. But at the same time, I think he believed, or at least it was his public persona, that he was also a scientist. That his scientific work was different. That he could, as one EconTalk guest said: He could put on his science hat, and then take it off and put on his ideology hat. And my claim is that that's a delusion--I don't mean to be critical about Milton, who I'm a big fan of, and incredibly important person in my education and in my life. But I think it is--so I don't know how aware or unaware he was about it. I don't want to say he was deluded. But I think many economists are deluded into thinking, and want to believe that they can wear those two hats separately. And it's very self-serving. We need to confront the fact that it's very much in our interest to pretend to the world that we have a scientific aspect to our work that is free of values. And I think that's--I think it's fundamentally deceptive, and dishonest."

"We are in danger of producing an educated proletariat. That's dynamite! We have to be selective on who we allow to go through (higher education). If not, we will have a large number of highly trained and unemployed people. That's what happened in Germany. I saw it happen."

"There was always a wage at which all these horses could have remained employed. But that wage was so low that it did not pay for their feed."

"Recognizing that the university needed to tap new sources of revenue in order to thrive, she envisioned a multifaceted, strategic plan to move us forward. She built a collegial and talented team, was always available to problem solve, react to, or guide the essential work of the university."

"Her desire to elevate Wisconsin touched all facets of the institution."

"Former Chancellor Blank was a tireless leader whose impact on campus is undeniable."

"Becky tirelessly fought the good fight for all that she believed in. Her pathbreaking scholarship informed actionable policies for reducing poverty and inequality, for which she fiercely advocated in her various government and nongovernmental roles."

"She made a significant impression on all who knew her."

"Her legacy will live on through her many contributions to the world."

"Our community has lost a brilliant leader who cared deeply about making this great public research university stronger, more accessible, better connected to the community and the state and better positioned to make a difference in the world."

"He loved talking: he loved to be a Dr Johnson in the New World."

"Australia to the world lay hid in night: God said, "Let Grattan be!" and all was light."

"[C]ulturally there is a vast amount of hard work to be done before the average Australian has ordinary tolerance and understanding of American life and thought."

"In that time he has done as much as, and probably more than any other person, to explain Australia to his fellow countrymen. In addition he has played an important part in explaining Australia to itself."

"The Australian–American policy must be flung into the ring where the Continental Americans and the Imperial Americans do battle."

"The most obvious way to take international considerations into account is by treating risks emanating from abroad as an important input when setting domestic macroprudential policy."

"The benefits of open capital markets are clear. They facilitate the flow of finance to where it would be most productive and help ensure global resources are allocated most efficiently. They allow savers and investors to diversify portfolios beyond national borders, and they provide a greater range of funding sources to fast growing economies and businesses"

"Reciprocity also helps address the old problem of asymmetric adjustment of global imbalances. Suppose a deficit country wishes to contain the supply of credit and build resilience in its financial system by raising the buffer. If a surplus country whose banks are lending to the deficit country reciprocates, its banks should be incentivised to lend less to the deficit economy, and more to their domestic economy. That should increase domestic demand in the surplus country, and hence demand for deficit country exports, reducing the overall level of imbalances."

"Africa is responsible for only 1% of emissions but will be the hardest hit by climate change. That cannot be right. At the same time, many African countries are rich in sunshine, wind, rivers and forests. With support, they could leapfrog the dirty energy systems of the past and, if we create a better carbon market, provide a huge source of income for countries rich in carbon sinks."

"We know we are in difficult economic times with war, recession, and inflation. Where will the money for this investment come from? In tough times, we need to use our limited resources most efficiently. Given the history of climate change, we need an appropriate balance between responsibility and resources."

"So, the economy of the future is our choice. We face a classic intertemporal investment problem – incur some investment costs now with high returns later or opt for inaction or not enough action but incur very high costs and risks later. Even if you do not take into account future generations (which makes these arguments much, much stronger), it seems to me the choice is clear. Climate change and biodiversity loss are here, and we are already suffering the consequences. Unlike the Pharaohs, we can overcome this climate change by choosing a different kind of economy for the future."

"The growth of market-based finance and asset management is creating new sources of funding, adding welcome diversity to the financial system, particularly for emerging markets. And in some ways these flows are less risky – for example the average maturity of international securities issued by emerging markets is 10 years, reducing rollover risk and exposure to a sudden flight of capital."

"But before doing that, let me start with a story from the past. Over 3000 years ago a different kind of climate change caused by volcanic eruptions and changing weather patterns resulted in persistent droughts that caused famines and political unrest in ancient Egypt. The pharaohs of the Ptolemaic dynasty such as Cleopatra went to great lengths to adapt – transferring grain from productive regions to drought plagued areas, opening up grain stores, crossbreeding cattle to develop more heat resistant animals, and providing tax relief. These foresighted efforts managed to prolong the Egyptian empire for a half century longer but ultimately one of the greatest empires the world has ever known collapsed because of the effects of climate change. The difference between then and now is that we are the cause of today’s climate change, and we have the means to stop it by changing our economy."

"I am honoured to speak today in the country of my birth, a country that has been a cradle of human civilization for millennia, on a topic that will determine the future of human civilization and whether it lasts for more millennia. I am an economist who has worked on development and environment issues for several decades and I wanted to speak to you about the economy of the future."

"What could the economy of the future look like? We have a choice. It could be one based on familiar technologies, markets and institutions. We could continue with polluted air and water where our children suffer from respiratory diseases; where our economies are struck by frequent shocks caused by unpredictable weather events which cause catastrophic losses; where people have to move across borders as their livelihoods are destroyed by rising sea levels or persistent droughts and rising temperatures; and one where the natural world continues to diminish."

"Universities and institutions of higher education have existed for millennia, stretching back to the schools of the ancients in places like China, Egypt, Greece, and India. There is something special, even magical, about the tradition of students and scholars coming together to create these unique environments of learning."

"But we must take into account the rights of all members of our community. The encampment has created an unwelcoming environment for many of our Jewish students and faculty."

"Today, the critical questions we ask include, “What are you going to do with the training you’ve acquired?” and “How are you going to use the research you’ve conducted for the betterment of society?” Look behind me at the inscription on Low Library which says we want to be an institution that is “cherished by generation after generation for the advancement of the public good."

"I can also paint a different picture of the economy of the future. One in which we make the needed investments and created cities in which we can move, breathe, and thrive. One in which the food we eat regenerates the earth rather than depletes it. Where our economies continue to grow and especially in poor countries, living standards continue to rise, where this growth is greener, more stable and where human well-being is enhanced through co-existence with nature."

"There are many ways in which co-operation on macro-prudential policies could be deepened further. Options which could warrant further investigation range from formalising the exchange of information, to frameworks for reciprocity for tools beyond the countercyclical capital buffer, to common stress test scenarios and risk assessment that are used across the world."

"Over the last few months, we have been patient in tolerating unauthorized demonstrations, including the encampment. Our academic leaders spent eight days engaging over long hours in serious dialogue in good faith with protest representatives. I thank them for their tireless effort. The University offered to consider new proposals on divestment and shareholder activism, to review access to our dual degree programs and global centers, to reaffirm our commitment to free speech, and to launch educational and health programs in Gaza and the West Bank. Some other universities have achieved agreement on similar proposals. Our efforts to find a solution went into Tuesday evening, but regrettably, we were unable to come to resolution."

"Rather than tearing ourselves apart, universities must rebuild the bonds within ourselves and between society and the academy based on our shared values and on what we do best: education, research, service and public engagement."

"Columbia has a long and proud tradition of protest and activism on many important issues such as the Vietnam War, civil rights, and the anti-apartheid struggle in South Africa. Today’s protesters are also fighting for an important cause, for the rights of Palestinians and against the humanitarian tragedy in Gaza. They have many supporters in our community and have a right to express their views and engage in peaceful protest."

"Free speech is the bedrock of academic inquiry and excellence. The threats it faces are real — many places ban books, curricula are sometimes determined by politicians rather than educational experts and scholars are at serious risk in many countries."

"I know that many of our Jewish students, and other students as well, have found the atmosphere intolerable in recent weeks. Many have left campus, and that is a tragedy. To those students and their families, I want to say to you clearly: You are a valued part of the Columbia community. This is your campus too. We are committed to making Columbia safe for everyone, and to ensuring that you feel welcome and valued."

"Additionally, the University offered to convene a faculty committee to address academic freedom and to begin a discussion on access and financial barriers to academic programs and global centers. The University also offered to make investments in health and education in Gaza, including supporting early childhood development and support for displaced scholars. There are important ideas that emerged from this dialogue, and we plan to explore pursuing them in the future."

"Like you, I am new to this campus, having started as Columbia’s 20th president in July. And I say as someone who has experienced change once or twice in my life, beginnings are exciting, and hard, and everything in between. They introduce us to new people and ideas, challenge us to adapt to new situations, and open our eyes to new ways of thinking about the world and our place within it."

"From my perspective, there are two issues at stake. First, we must do a better job of defining the boundaries between the free speech rights of one part of our community and the rights of others to be educated in a place free of discrimination and harassment."