Ben Bernanke on economics and economic forecasting

Ben Bernanke

In his remarks at Princeton University Baccalaureate Ceremony in June 2013, several months before he left office, the former chairman of the Federal Reserve and an eminent economist Ben Bernanke released into the world this frank insight:

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.

Bernanke, Ben S. 2013. “The Ten Suggestions.” Remarks at Baccalaureate Ceremony, Princeton University, Princeton, New Jersey, June 2. (p. 5)

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