Never treat only one productivity number that seriously, ... What you have to remember is that productivity has always been very cyclical. When the economy sags, productivity sags.
More Quotes from Alan Blinder:
It's not a lack of transparency when you stop giving information when there is nothing to give, and we're getting pretty close to that point.Alan Blinder
The current episode is vastly worse than that there's only been the slightest bit of a paltry recovery in the labor market.
Alan Blinder
Monetary policy has become much less political than it used to be years back, and centuries back. There's a consensus on what monetary policy should be doing, which is to say keeping inflation low and, subject to that constraint, keeping employment high. So politicians take this attitude that it's for technocrats, and it doesn't matter too much whether the guy is a Republican or a Democrat.
Alan Blinder
One of the reasons for all the happy faces in retail this holiday shopping season is that gas prices are going down, down, down. Employment and income are doing well.
Alan Blinder
What this illustrates is the virtue of being more plain-spoken and the dangers when you are not.
Alan Blinder
We will soon learn whether the Greenspan era has created a deep reservoir of faith in the Federal Reserve, or just in Alan Greenspan.
Alan Blinder
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If you look around the table and you can't tell who the sucker is, it's you.Paul Scofield
And so there is no God but has been in the loins of past gods.
Samuel Butler
Remember that nobody will ever get ahead of you as long as he is kicking you in the seat of the pants.
Walter Winchell