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Wisdom is the right application of knowledge; and true education. . . is the application of knowledge to the development of a noble and Godlike character.

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Alan Blinder

Public opinion is presumptively an input to policy formation in a democracy because politicians respond to it or at least are believed to respond [to it].

Believed, Democracy, Input, Politicians, Public Opinion, Respond
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Life is not a multiple choice test, it's an open-book essay exam.

Book, Essay, Exam, Life, Multiple Choice, Teaching

The last duty of a central banker is to tell the public the truth.

Banker, Bankers, Central, Investing, Lasts, Tell

"Murphys law of economic policy": Economists have the least influence on policy where they know the most and are most agreed; they have the most influence on policy where they know the least and disagree most vehemently.

Disagree, Economics, Influence, Law

And the maestro surely wielded the chairman's baton with extraordinary skill. His stellar record suggests that the only right answer to the age-old question of whether it is better to be lucky or good may be: both.

Age, Lucky, Question, Right, Skills

There is a kind of a cascading chain,. . . If one can't sell, then that business doesn't buy and that means the next business doesn't sell, and the previous business doesn't sell, and so on.

Cascading, Kind, Mean, Next, Sell
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