An increase in the relative price of products from the low wage manufacturers in Asia and Latin America will also make those products less attractive to American consumers.
More Quotes from Martin Feldstein:
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
Today's macroeconomic problems require attention to more fundamental forces of individual incentives and institutional rigidities.
Martin Feldstein
I think that over the last few decades, we have seen better economic outcomes than in the past.
Martin Feldstein
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.
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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.
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Household saving fell from 2.5 per cent of after-tax income in the third quarter of 2003 to a remarkable minus 1.8 per cent two years later.
Martin Feldstein
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Ambrose Bierce
Being a housewife and a mother is the biggest job in the world, but if it doesn't interest you, don't do it - I would have made a terrible mother.
Katharine Hepburn
But my estimates, for instance, based upon book information, were simply ridiculous, fanciful images of African attractions were soon dissipated, anticipated pleasures vanished, and all crude ideas began to resolve themselves into shape.
Henry Morton Stanley