Bernanke’s Excellent Commencement Address at Princeton
Included the Following Valuable Insight:
http://www.federalreserve.gov/newsevents/speech/bernanke20130602a.pdf
“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. However, careful economic analysis does have one important
benefit, which is that it can help kill ideas that are completely logically
inconsistent or wildly at variance with the data. This insight covers at least
90 percent of proposed economic policies.”