In many spheres of human endeavor, from science to business to education to economic policy, good decisions depend on good measurement.
Ben BernankeRead
I've never been on Wall Street. And I care about Wall Street for one reason and one reason only because what happens on Wall Street matters to Main Street.
Interpretation
The quote emphasizes the connection between the financial markets and the everyday experiences of ordinary people.
Ben Bernanke highlights the significant influence of Wall Street, which represents the financial sector, on Main Street, symbolizing the general public and their livelihoods. He expresses that, although he may not engage directly with Wall Street, he understands that its activities and performance have far-reaching consequences for the economy and the well-being of everyday individuals.
In practice
Use this quote during a financial literacy workshop to highlight the importance of understanding economic systems.
In many spheres of human endeavor, from science to business to education to economic policy, good decisions depend on good measurement.
Education - 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.
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.
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.
The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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.
Automation provides us with wondrous increases of production and information, but does it tell us what to do with the men the machines displace? Modern industry gives us the capacity for unparalleled wealth - but where is our capacity to make that wealth meaningful to the poor of every nation?
Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. Believe me, it will be enough.
Our public credit is good, but the abundance of paper has produced a spirit of gambling in the funds, which has laid up our ships at the wharves as too slow instruments of profit, and has even disarmed the hand of the tailor of his needle and thimble. They say the evil will cure itself. I wish it may; but I have rarely seen a gamester cured, even by the disasters of his vocation.
The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians.
I know of no example in time or place of a society that has been marked by a large measure of political freedom, and that has not also used something comparable to a free market to organize the bulk of economic activity.
Paper money has had the effect in your State that it ever will have, to ruin commerce, oppress the honest, and open a door to every species of fraud and injustice.
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