Martin Feldstein
Biography
Quotes
- A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output.
- The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.
- To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.
