In many spheres of human endeavor, from science to business to education to economic policy, good decisions depend on good measurement.
Ben BernankeRead
The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used.
Interpretation
What this quote means
Central banks should operate transparently to ensure public trust and accountability.
The quote emphasizes the importance of transparency and accountability in the operations of central banks like the Federal Reserve. It suggests that since these institutions hold significant power over the economy, the public has a right to understand how that power is exercised and for what reasons, ensuring that their actions are aligned with democratic principles.
Themes
TransparencyAccountabilityCentral BanksPublic TrustEconomics
In practice
Example use cases
This quote can be used in a discussion about financial policy reforms in an economic seminar.
More from Ben Bernanke
All quotes βEducation - lifelong education for everyone - from toddlers to workers well advanced in their careers - is indeed an excellent investment for individuals and society as a whole.
Ben BernankeRead
Nobody likes to fail but failure is an essential part of life and of learning. If your uniform isn't dirty, you haven't been in the game.
Ben BernankeRead
Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
Ben BernankeRead
The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
Ben BernankeRead
Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
Ben BernankeRead
Similar quotes
President Bush announced his new economic plan. The centerpiece was a proposed repeal of the dividend tax on stocks, a boon that could be worth millions of dollars to average Americans. Well, average stock-owning Americans. Technically, Americans who own a significant amount of shares in dividend-dealing companies. Well, rich people, that's what I'm trying to say. They're going to do really well with this.
Jon StewartRead
Hillary Clinton understands that if someone in America this country works 40 hours a week, that person should not be living in poverty. She understands that we must raise the minimum wage to a living wage.
Bernie SandersRead
Regulating and taxing marijuana would simultaneously save taxpayers billions of dollars in enforcement and incarceration costs, while providing many billions of dollars in revenue annually.
George SorosRead
Just as we should never balance the budget on the backs of the poor, so it is an economic delusion to think you can balance it only on the wallets of the rich.
George OsborneRead
Private fortunes, in the present state of our circulation, are at the mercy of those self-created money lenders, and are prostrated by the floods of nominal money with which their avarice deluges us.
Thomas JeffersonRead
They will come to learn in the end, at their own expense, that it is better to endure competition for rich customers than to be invested with monopoly over impoverished customers.
Frederic BastiatRead