Quotes of the Day

“There needs to be an array of numbers but we need to understand the role of each number. We may not be able to aggregate everything together.”, Joseph Stiglitz, the Nobel Prize-winning economist said, reminding the weakness of the GDP figures in assessing the wealth and the well-being of societies, specifically by not including some challenging issues such as the climate change, environmental sustainability, or the role of national debt in exaggerating the GDP number.

“Ripping the stimulus out prematurely would only pull the rug out from under the recovery, undermine confidence and threaten jobs.”, Australia’s Treasurer Wayne Swan said in a weekly economic note. In recent days, policymakers around the world have showed their concerns that it may still be too soon for cutting back in stimulus efforts.