"This sensitivity to the phenomena of recession and inflation is a symptom of an increased public awareness of both the need for and the attainability of economic progress. It is precisely because so much of current industrial and governmental practice can be better in the future that our meetings this year are focused on the broad problem of improving the performance of the American economy. However, as we go about the task of appraisal and criticism, it will be well to discipline our impatience for reform. In the measure that we avoid exaggerating our nation's failures or understating its successes, we shall make it easier for ourselves as well as for economists in other countries to see current needs and developments in a just perspective."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Academics from the United StatesEconomists from the United StatesBusiness theorists from the United StatesChairs of the Council of Economic AdvisorsChairs of the Federal Reserve
Original Language: English
Available Languages (1)
Sources
p. 101-2
https://en.wikiquote.org/wiki/Arthur_F._Burns
Revision History
No revisions have been submitted for this quote.
Categories
Arthur F. Burns
Arthur Frank Burns (August 27, 1904 – June 26, 1987) was an American economist. His career alternated between academia and government. From 1927 to the 1970s, Burns taught and researched at , , and the .
7 quotes on TrueQuotesView all quotes by Arthur F. Burns →
Related Quotes
"Business cycles are a type of fluctuation found in the aggregate activity of nations that organize their work mainly …"
"For well over a century business cycles have run an unceasing round. They have persisted through vast economic and so…"
"THE AMERICAN people have of late been more conscious of the business cycle, more sensitive to every wrinkle of econom…"
"Clearly, the broad effect of economic evolution until about 1920 was to increase the concentration of jobs in the cyc…"
"The only disagreement among economists is whether Burns fully understood the mistakes he was making, or was so wedded…"
"The OPEC oil-price hike caused inflation to shoot up in the USA. The stock markets took a real hit, causing considera…"
"For him delicious flavors dwell In books as in old Muscatel."
"And in the evening, everywhere Along the roadside, up and down, I see the golden torches flare Like lighted street-la…"
"Song like a rose should be; Each rhyme a petal sweet; For fragrance, melody, That when her lips repeat The words, her…"
"The hunter catches a dreadful prey, the seaman steers his ship into an unspeakable harbor, the plowman sows and reaps…"