"Although economists have studied the sensitivity of import and export volumes to changes in the exchange rate, there is still much uncertainty about just how much the dollar must change to bring about any given reduction in our trade deficit."

Change

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Thematic Reflection

This quotation examines the core nature of Change as articulated by Martin Feldstein. Within historical and literary traditions, reflections on Change provide actionable mental models, challenging individuals to evaluate personal ethics, self-discipline, and daily actions.

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About Martin Feldstein

Martin Stuart Feldstein was an American economist. He was the George F. Baker Professor of Economics at Harvard University and the president emeritus of the National Bureau of Economic Research. He served as president and chief executive officer of the bureau from 1978 to 2008. From 1982 to 1984, Feldstein served as chairman of the Council of Economic Advisers and as chief economic advisor to President Ronald Reagan. Feldstein was also a member of the Washington-based financial advisory body the Group of Thirty from 2003.

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More by Martin Feldstein

"Domestic inflation reflects domestic monetary policy."

— Martin Feldstein
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"In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth."

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"A second reason why science cannot replace judgement is the behavior of financial markets."

— Martin Feldstein
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"An increase in the relative price of products from the low wage manufacturers in Asia and Latin America will also make those products less attractive to American consumers."

— Martin Feldstein
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More about Change

"If you watched companies such as Sony and Samsung grow, they focused first on features and then on industrial design, which made their products look and feel better."

— Jefferson Han
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"Just because I won the U.S. Open doesn't mean I'm going to change the way I live."

— Angel Cabrera
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"I shall not change my course because those who assume to be better than I desire it."

— Victoria Woodhull
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"The environment doesn't change that radically. You are still going to go home at night and NBC is going to be there, ABC and CBS will still be there."

— Dick Wolf
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