The first step is to measure whatever can be easily measured. This is OK as far as it goes. The second step is to disregard that which can’t be measured or give it an arbitrary quantitative value. This is artificial and misleading. The third step is to presume that what can’t be measured easily isn’t very important. This is blindness. The fourth step is to say that what can’t be easily measured really doesn’t exist. This is suicide.
第一步是测量任何容易测量的东西。这本身没有问题。第二步是忽视无法测量的东西或给它一个任意的数值。这是人为且误导的。第三步是假设不容易测量的东西不太重要。这是盲目。第四步是说不能轻易测量的东西实际上不存在。这是自杀。
货币政策规则的设计应避免自由裁量政策的陷阱,后者往往导致时间不一致性。
The desire for recognition, the thymotic part of the soul, is the most political part of man.
The moment you start following the crowd, you’re going to lose your originality.
He who loves God cannot endeavor that God should love him in return.
I'm very shy, believe it or not. It's true.
Every person you meet knows an amazing lot about something you know virtually nothing about. Your job is to discover what it is, and it won’t be obvious.