Policy rules are better than discretion because they avoid the time inconsistency problem.
政策规则优于自由裁量,因为它们避免了时间不一致性问题。
金钱不会改变人,而是揭露他们的本性。
The best way to predict the future is to invent it.
在这个充满欺骗的世界里,文字是我唯一信任的武器。
The longer you look at an object, the more abstract it becomes, and, ironically, the more real.