"To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world."
Martin FeldsteinTiny Panda Quotes
Quotes by Martin Feldstein
Martin Feldstein was a preeminent American economist, renowned for his influential roles as a professor at Harvard University and as the president of the National Bureau of Economic Research. Born on November 25, 1939, Feldstein significantly shaped economic policy in the United States, particularly during his tenure as Chairman of the Council of Economic Advisers under President Ronald Reagan. His pioneering research on social security and tax policy continues to resonate, marking him as a pivotal figure whose legacy endures in contemporary economic discourse.
4 quotes found
"But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries."
Martin Feldstein"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."
Martin Feldstein
"Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work."
Martin Feldstein