Monetary Policy Is Not A Panacea.

[virtual Currencies] May Hold Long-term Promise, Particularly If The Innovations Promote A Faster, More Secure And More Efficient Payment System.

The Economic Repercussions Of A Stock Market Crash Depend Less On The Severity Of The Crash Itself Than On The Response Of Economic Policymakers, Particularly Central Bankers.

Weaker Currencies Abroad Mean A Strong Dollar, And A Stronger Dollar, Together With A Weak Global Environment, Is A Drag On The U.s. Economy. So It's Important, As It Affects Overall Levels Of Production And Employment In The U.s. There Are Many Domestic Industries Doing Well In The United States, Notwithstanding A Strong Dollar.

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.

The More Important Reason Is That The Research Itself Provides An Important Long-run Perspective On The Issues That We Face On A Day-to-day Basis.