"During your working lives, you will have to reinvent yourselves many times.
Success and satisfaction will not come from mastering a fixed body of knowledge but from constant adaptation and creativity in a rapidly changing world."
Who said that?
Chairman Ben S. Bernanke, at Bard College at Simon's Rock, Great Barrington, Massachusetts.
What else did he say?
- The word "graduate" comes from the Latin word for "step."
- Another prediction, just as safe, is that people will nevertheless continue to forecast the end of innovation.
A great speech! Read more at Number 1 below.
At Number 7 ...
... I enjoyed another speech:
"I am very pleased to be here among an audience of professional economists, which is certainly preferable to appearing before an audience of unprofessional economists."
Who said that?
Sarah Bloom Raskin, Member of the Board of Governors of the Federal Reserve System, at the Society of Government Economists and the National Economists Club, Washington DC.
Well, Sarah ... don't be brutally honest, as professional economists can be as rude as unprofessional economists...
She was brutally honest. She said:
"I like your kind!
Your talents are needed now more than ever as we try to put the tools of the economic profession to work for the common good.
It's easy to be an economist who looks back on crises and crashes and tries to explain why they happened, but much harder to be an economist whose efforts manage to help stop them from happening in the first place.
Economic policymaking, at its best, reflects a continuous struggle to make sure that data and explanations of such data are consistent with real experience.
If we're to engage in this struggle honestly, it's no easy task.
It involves understanding not just the reliability and signal in various data, but also questioning whether the data accords with our understanding of actual experience.
So, to get this right requires many different perspectives, not just on the data but on the underlying realities the data are trying to capture."
Sara, I like your speech. I agree, to engage in this struggle honestly, it's no easy task. I enjoyed you told all these to professional economists.
Read more at Number 7 below.
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