Lawrence Klein

"It is my firm belief that the only satisfactory test of economics is the ability to predict, and in crucial predictive situations such as reconversion after World War II, the settlement of the Korean …"

"I think the Kennedy-Johnson tax cut was a marvelous success in 1964. It was too bad it was not implemented a little sooner, and Kennedy died, of course. After that, Johnson dallied for a while about r…"

"At the beginning of a decade it is tempting to look ahead for the next ten years."

"At Chicago, I was in the midst of a veritable galaxy of stars: Trygve Haavelmo, Tjalling Koopmans, Theodore Anderson, Leonid Hurwicz, Herman Rubin, Kenneth Arrow,,, and Herbert Simon, among others. I …"

"The centrally planned economies, dissatisfied with the outcome of their own efforts to achieve good economic growth performance, have changed strategy and decided to import high technology from the We…"

"Balancing fiscal and monetary policies is a problem. If you do just one thing, it is not necessarily enough—neither monetary policy alone nor fiscal policy alone, and neither tax cuts nor expenditure …"

"In the past few years there has grown up a large group of young economists who have accepted the theoretical doctrines of the Keynesian Revolution and who have come into national prominence through th…"

"There are many reasons there was higher inflation in the 1970s. But that is a complicated story that deals with much more than tax policies."