Top 44 Quotes by Amity Shlaes

The phrase 'perception is reality' is overused generally. But perception can be reality in monetary policy. The bond market doesn't act merely on what it sees. It acts on what it expects of the Fed or the government.

Grades can matter, especially for those students and parents who live for the next round of applications to graduate or professional schools. But there's a problem with the grade emphasis. Math or science graduates earn more than students majoring in the humanities.

The result of the collaborative culture is that corporations or government institutions focus intensely on internal culture and pour their energy into achieving minuscule policy changes relating to workplace efficiency, gender or race.

The Grand Old Party's abiding affection for a 'bigger and better' presidency isn't entirely logical. After all, the Obama presidency commenced with an effort to reenact the Hundred Days. Yet President Obama's first-term economic performance itself was not 'big' but mediocre - tiny, even.

Policy people suffer their own kind of agony, and no wonder. After all, what is the average life of the policy person? You go into government if you are lucky, do your best, aren't appreciated, take all the blame for policies for which you are only partly responsible, leave, realize your reputation has been damaged, maybe permanently.