Quotes by Women Economists
What being among the 'right people' entails is the possession of human capital, rather than organizational capital: an individual reputation, portable skills, and network connections. Career responsibility is squarely in the hands of individuals, a function of their knowledge and networks. Transferable knowledge is more important to a career than firm-specific knowledge.
Capitalism with near-full employment was an impressive spectacle. But a growth in wealth is not at all the same thing as reducing poverty. A universal paean was raised in praise of growth. Growth was going to solve all problems. No need to bother about poverty. Growth will lift up the bottom and poverty will disappear without any need to pay attention to it. The economists, who should have known better, fell in with the same cry.
The bottom line is that monetary policy is a lot harder in the post-crisis world. We have learned a lot from the past five years, but there is still much we do not know. Policymakers, including the new Federal Reserve chair, are going to need flexible minds, good research, and the wisdom of ordinary Americans if they are going to meet the challenges that lie ahead.
I felt I wanted to talk about the Fed's mission, and I wanted to do so in understandable terms, and to emphasize that unemployment is part of our mission. The recession has taken a particularly heavy toll on those who have less education and income—middle-income and low-income families—and the Fed's concern with the job market is a theme I've wanted to get across. Why are we doing all these things that are in the newspapers all the time? I was trying to explain that we're doing this to help American families who are struggling in the aftermath of the Great Recession.
There is one class of men who from time to time have taken a keen and practical interest in the constitution of the Family, and they are the Statesmen. They have realized how intimately the welfare of the State depends upon the influence and nature of the Families from which it is constituted; and they have endeavoured that the State in turn should mould and influence the Family to its own purposes.