'Murphys law of economic policy': Economists have the least influence on policy where they know the most and are most agreed; they have the most influence on policy where they know the least and disagree most vehemently.

'Murphys law of economic policy': Economists have the least influence on policy where they know the most and are most agreed; they have the most influence on policy where they know the least and disagree most vehemently.

Public opinion is presumptively an input to policy formation in a democracy because politicians respond to it or at least are believed to respond [to it].

There is a kind of a cascading chain, ... If one can't sell, then that business doesn't buy and that means the next business doesn't sell, and the previous business doesn't sell, and so on.

The last duty of a central banker is to tell the public the truth.

If you try to give an on-the-one-hand-or-the-other- hand answer, only one of the hands tends to get quoted.

Life is not a multiple choice test, it's an open-book essay exam.