Economics has never been a science - and it is even less now than a few years ago.

What good does it do a black youth to know that an employer must pay him $2 an hour if the fact that he must be paid that amount is what keeps him from getting a job?

Economics has never been a science - and it is even less now than a few years ago.

Economics is a choice between alternatives all the time. Those are the trade-offs.

I can't think of a president who has been overburdened by a knowledge of economics.

Economics is not an exact science. It's a combination of an art and elements of science. And that's almost the first and last lesson to be learned about economics: that in my judgment, we are not converging toward exactitude, but we're improving our data bases and our ways of reasoning about them.