Italian - Economist | June 18, 1918 - September 25, 2003
People confuse economists and economic policy.
Franco Modigliani
PeoplePolicyEconomistsEconomic
Economists agree about economics - and that's a science - and they disagree about economic policy because that's a value judgment... I've had profound disagreements on policy with the famous Milton Friedman. But, on economics, we agree.
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I am a believer in cooperation.
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With the danger of war, there is a danger that the economy will go down.
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The immediate effect of the deficit is to make you feel good, like when you go on a trip and pay later. You feel good, and then you get a hangover. The deficit makes you feel good - until you pay later.
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