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"Well said!"

Quotes, bon mots, and noteworthy utterances from the campus and beyond

05 February 2009

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"The single issue that unites all economists is that the freer the trade, the better."

Professor of Economic Analysis and Policy Andrew Rose, objecting to the protectionist "Buy American" provisions being advocated by some legislators for inclusion in the federal stimulus package now moving through Congress.
Los Angeles Times, Jan. 29

"When you consider that consumers make up 70 percent of the economy, the magnitude of the problem becomes apparent."

Professor of Public Policy Robert Reich, noting that American consumers' current inability to convert home equity to cash means they "no longer have the money to keep consuming."
Salon, Feb. 3

"If the whole world went with the U.S. model, the planet would not exist."

Professor of Real Estate and Urban Economics Ken Rosen, commenting on Americans' propensity for borrowing heavily to fuel consumption, and hence growth.
Straits Times (Singapore), Feb. 1

"Not yet, not for a long time to come, and
perhaps never."

Professor of Economics Brad DeLong, observing that consumers' addiction to "stuff" makes it unlikely that John Maynard Keynes's long-ago prediction that people of today would turn to the enjoyment of life once their material needs were satisfied will ever be realized., Jan. 29

"It's the best contract we've ever had, and I consider it a victory at a time when thousands of workers are losing their jobs and taking pay cuts."

Kathryn Lybarger, a campus gardener and member of the AFSCME bargaining committee that recently reached a contract settlement with UC. (See related item, page 3.), Feb. 2